Stocks fell, with the Bombay Stock Exchange’s Sensitive Index posting its second monthly drop. Reliance Industries (RIL) led declines as the economy grew at the slowest pace since 2003 and missed economists’ estimates.
The Sensex declined 63.25, or 0.7 per cent, to 8,891.61. The index fell 5.7 per cent this month, its second monthly drop. The S&P CNX Nifty Index on the National Stock Exchange slid 0.8 per cent to 2,763.65. The BSE 200 Index declined 0.4 per cent to 1,044.94. S&P CNX Nifty futures for March delivery dropped 1.4 per cent to 2,727.
“GDP was disappointing,” said Jayesh Shroff, who helps manage $1.9 billion in equities at SBI Asset Management in Mumbai.