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Three Charts Show Trouble for India Stocks Nearing a Bear Market

  • Foreign exodus, overoptimistic estimates may spur more losses
  • ‘Markets to further correct from here,’ Raay’s Malandkar says
Outside the Bombay Stock Exchange (BSE) building in Mumbai.

Outside the Bombay Stock Exchange (BSE) building in Mumbai.

Photographer: Dhiraj Singh/Bloomberg

As surging inflation and the end of global easy-money policies send Indian stocks spiraling down from all-time highs, three charts show the pain is unlikely to end anytime soon.

The S&P BSE Sensex Index has fallen more than 15% from its October high, nearing the 20% loss that denotes a bear market. The selloff comes as climbing costs and a record plunge in the rupee have forced the nation’s central bank to join global peers in raising interest rates.