India stocks fall as possibility of rate rise lingers

Indian equities fell for the third day on speculation the central bank will continue raising rates to contain prices after inflation stayed at more than 9 per cent in July for the eighth consecutive month. DLF fell 5.7 per cent after India's antitrust regulator imposed a penalty of about Rs6 billion (Dh485 million) on the company for "abuse of dominance," the Press Trust of India reported, citing a Competition Commission of India official it didn't identify. Hindalco Industries fell 3.9 per cent amid concern higher commodity prices will crimp demand. The wholesale-price index rose 9.22 per cent from a year earlier after a 9.44 per cent jump in June, the commerce ministry said on Tuesday. The median of 22 estimates in a Bloomberg News survey was for a 9.2 per cent increase.