(Bloomberg) -- Indian stocks extended declines to a third day as the central bank said it's seeing "signs of fragility" in some lenders after key indexes closed last week at their lowest level in two months.
The benchmark S&P BSE Sensex Index fell 0.7% to 38,067.08 as of 10:00 a.m. in Mumbai. The NSE Nifty 50 Index dropped 0.6%. Both measures were set for their lowest levels since mid-May.
The Reserve Bank of India is monitoring non-banking finance companies amid signs of stress to prevent another potential surge in soured debt at their bankers. Investors last week were spooked by higher taxes on the wealthy and some foreign funds in the budget.
Of the seven Nifty companies that have announced earnings so far, five have either met or exceeded analyst estimates. Kotak Mahindra Bank Ltd. will announce its earnings later in the day.
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