India is now among the worst-performing markets; Nifty down 15.4%

The 50-share Nifty is down 15.4 per cent in the year-to-date in dollar terms and lags most Asian peers, except China, Indonesia and Philippines

India is now among the worst-performing markets, with the rupee’s slide and the pullback by overseas investors crimping returns.

The 50-share Nifty is down 15.4 per cent in the year-to-date in dollar terms and lags most Asian peers, except China, Indonesia and the Philippines. Other emerging markets such as Brazil, Taiwan and Thailand are also in the red but have outperformed India.  

Last month, Goldman Sachs lowered its investment view on India from overweight to market-weight citing elevated valuations. The brokerage said it expected Indian equities to consolidate heading into the elections. “Indian equities are the most expensive in Asia and trading