Stocks decline ahead of RBI policy

India’s benchmark stock index fell from a two- year high before the central bank’s monetary policy review today.

The BSE India Sensitive Index, or Sensex, slid 0.18 per cent to 20,103.35. The gauge added 0.3 per cent last week to its highest level since January 6, 2011. Maruti Suzuki India Ltd., the biggest carmaker, gained for a second day after profit beat analysts’ estimates.

Tata Motors Ltd., climbed 2.5 per cent while state- run explorer Oil & Natural Gas Corp. dropped 1.7 per cent.

Possible rate cut

The Reserve Bank of India will probably cut the benchmark rate by 25 basis points to 7.75 per cent, according to 25 of 29 analysts surveyed by Bloomberg.