Bulls Go Missing as India loses Asia’s Best Stock Market Tag

For India equity bulls, a good year for the nation’s stocks has quickly soured. Blame it on the concerns about a troubled lender that led to a sudden cratering in non-banking finance companies—a favourite among money managers until recently—and stripped the nation of its tag as Asia’s best stock market this year. The swift reversal introduces a sobering note in the $2.1 trillion market that climbed to multiple records in August despite rising oil prices and a tumbling rupee, thanks to the optimism about the world-beating economic growth and a robust recovery in earnings. The S&P BSE Sensex is now headed for its worst month in 2 1/2 years, and volatility is back to levels seen in February.

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Bulls Go Missing as India loses Asia’s Best Stock Market Tag via @MasterMindUpdate