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Statsguru: Indian markets under pressure amid mounting trade war fears

The Nifty fell below the 10,000 level for the first time this year. But small- and mid-cap stocks continue to outperform large-cap ones

Ishan Bakshi 

Stock market

On Friday, the Indian came under pressure amid a sell-off in global equities with investors increasingly worried about escalating trade tensions between the US and China.

The fell 410 points to 32,597, its lowest close since December 5, as seen in chart 1. The is trading at 17.3 times its estimated 12-month forward earnings compared to the 10-year average of 16 times. The fell below the 10,000 level for the first time this year. But small- and mid-cap stocks continue to outperform large-cap ones as seen in chart 2. Public sector bank stocks continued to underperform their private sector counterparts as worries over and scams mount (chart 3). And though had dealt a severe blow to the fortunes of the and concerns over excess supply continue to linger, the index has surged over the past year as seen in chart 4. Sectors such as IT continue to map the broader market, while others like have underperformed the broader (chart 5). On the other hand, the commodity index is up 18.5 per cent over the past year. And while sentiment has turned negative, foreign portfolio investors have poured in roughly Rs 105 billion in over the January-March period so far as seen in chart 7.

In the F&O segment, trading volumes of futures on the (SGX) have plummeted by around 50 per cent from 108,871 in February to 54,004 in March since the NSE and BSE ended their data-sharing agreements.


is a weekly feature. Every Monday, Business Standard guides you through the numbers you need to know to make sense of the headlines. Compiled by BS Research Bureau

First Published: Sun, March 25 2018. 23:19 IST
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