Increasingly, top-10 underperformers include Indian benchmarks
The Indian stock market, which is facing a slowdown in the global markets, is also performing poorly. The Indian benchmark has also entered the top 10 weakest performing indices in the world during the current financial year after a steady decline in the last five trading sessions. BSE Sensex is down 9.57 per cent while Nifty is down 9.43 per cent.
The stock markets fell after the start of the Russo-Ukraine war in late February. In which the Indian market was also included. However, in the second fortnight of March, there was a sharp jump in the Indian market. The Sensex had fallen over 5,500 points since the start of the new financial year from April to Thursday. In percentage terms, this indicates a sharp decline of 9.57 per cent. On the other hand, Nifty is down 9.43 percent or more than 1,600 points. On Thursday, both the benchmarks were seen closing near their March lows. Until last week, they were reporting higher performance than emerging and developed markets. However, Nifty has broken more than 1,200 points in the last five trading sessions. Which is the sharpest drop in the current calendar.
Nasdaq tops the list of worst performers in 2022-23. Technology heavyweight Nasdaq is trading at its one-and-a-half-year low, down more than 20 per cent. Nasdaq has closed above 16,000 and closed at 11,000. Apart from this, there is a sign of a fall of more than 13 percent in the S&P 500. The MSCI World Index is down 13.12 per cent. Commodity heavy Brazil’s Bovespa is the top underperformer in emerging markets with 13 per cent.