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Markets lose sheen on economic travails, but investors keep faith

The rupee slumped 2.2% this month, its worst monthly performance since November

Reuters  |  New Delhi | Mumbai 

Rising concerns about India's economy and the government's fiscal discipline have sparked strong selling by foreign investors in Indian equities and sent the rupee tumbling, removing some, but not all, of the sheen from a hot emerging market play. A confluence of factors, including sharply slower-than-expected economic growth, rising oil prices, and worries the government might boost spending and widen its fiscal deficit target have combined to pummel Indian markets in September. The rupee slumped 2.2 percent this month, its worst monthly performance since November and ...

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First Published: Fri, September 29 2017. 18:37 IST