India markets worst year since pandemic, Nifty 50 down 5%
Business
India's stock markets just had their toughest year since the pandemic, with Nifty 50 down 5% and Sensex dropping 7%.
The slide was fueled by global tensions, a weaker rupee, and big money leaving the country.
A sudden selloff right at the end of March made things even rougher for every sector.
Foreign outflow ₹1.12T, record domestic buying
March saw foreign investors withdraw a massive 1.12 trillion rupees from Indian stocks, ouch. Luckily, domestic investors stepped in with record buying to soften the blow.
While everyone's still feeling cautious thanks to rising oil prices and currency swings, there's some comfort: Nifty is now trading below its long-term average, so there might not be much more downside even if things stay bumpy for a while.