India lags world markets in October

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The Indian market has been one of the worst-performing major global markets in October. The benchmark Sensex gained around two per cent this month. Meanwhile, other markets like China, the US and Germany have gained nine per cent. India's emerging market peers such as Indonesia and South Africa have outperformed India by a significant margin. The Indian market had gained as much as five per cent this month.

However, weak corporate earnings and risk-off trade ahead of the US Federal Reserve meeting saw the Sensex give up most of its gains. "After strong share market gains in October, November is likely to see a pause or correction - perhaps driven by ongoing Fed and emerging market concerns," said Shane Oliver, head of investment strategy and chief economist, AMP Capital.