We have recently seen significant selling of Indian equities by foreign portfolio investors. In July, the selling has touched almost $2.5 billion, and is now seems to be accelerating. Consequently, India has had a very tough year on a relative basis.
While the markets globally are hitting new highs, we are struggling to stay in positive territory. Indian mid-caps and small-caps continue to get decimated — downdouble digits for the year. In a ranking of the top 50 equity markets, in terms of performance year-to-date, we are ranked 43rd. What is surprising is that we are doing poorly ...
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