Indian indices lag most global peers: Sensex has declined 5.8% in April

Monday’s fall in the stock market has relegated India to the bottom of the global equity indices performance table. Domestic benchmark BSE Sensex trails all major global indices in April and over a one-month period, as well, having declined 5.8 per cent and 8.8 per cent, respectively, in US dollar terms.

This is a sharp reversal in fortunes as till mid-February India was among the best-performing markets, with returns in excess of 10 per cent.

The resurgence in Covid-19 cases and imposition of lockdowns has dealt a blow to the hopes of a strong revival in the economy and corporate earnings, prompting