Indian Stocks Extend Slide as High Crude Sparks Risk-Off Trade
Indian stocks tumbled as a global bond rout gathered momentum and oil prices remained elevated, deepening concerns over the outlook for the crude-importing nation.
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Indian stocks tumbled as a global bond rout gathered momentum and oil prices remained elevated, deepening concerns over the outlook for the crude-importing nation.
Overseas investors are turning sellers of Indian assets again as surging oil prices and rising global yields threaten to derail a recent revival in demand.
Indiaโs stronger-than-expected first quarter growth has bolstered analystsโ confidence that it can sustain its momentum through the rest of the financial year and remain the worldโs fastest-growing major economy โ even as it remains exposed to high oil prices caused by the US-Iran war. The Indian economy grew 7.8 per cent in the April-June quarter, comfortably beating the Reserve Bank of Indiaโs forecast of 7 per cent growth, despite the disruption that the Middle East conflict has caused to...