India Stocks Drop to 2-Month Low as Infosys Leads Software Slump
- Foreign outflows reach $442 million in November on Fed concern
- Investors await Fed minutes, Bank of Japan meeting outcome
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Indian stocks retreated to a two-month low, with the benchmark index dropping the most among Asian equity indexes, as concern about China’s economic slowdown deepened and investors awaited the release of the U.S. Federal Reserve minutes.
The nation’s two biggest software exporters, which have a 14 percent weighing in the S&P BSE Sensex, tumbled as a gauge of technology shares had the steepest decline in almost three months. Infosys Ltd. retreated to a four-month low after saying Tuesday that the quarter started Oct. 1 has been “very weak.” Tata Consultancy Services Ltd., India’s most valuable company, decreased to a 16-month low.