BSE IPO index set for worst month since March 2020, shows data

India’s new stock listings are losing their edge as a worsening outlook for global equities leads investors to take profit from high-profile consumer technology stocks that debuted with inflated valuations.

The S&P BSE IPO Index, which tracks firms for two years after their listings, has plunged about 10 per cent so far this year and is headed for its worst month since March 2020, the onset of the pandemic.

The slump comes on the back of fading risk appetite toward equities as central banks around the world prepare to tighten monetary policy to quell inflation. In the US, more