Every Stock on India's Nifty Fell Below Its 50-DMA This Week
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The rout sweeping global equities pushed all 50 stocks in India’s NSE Nifty 50 Index below their 50-day moving average prices Wednesday, the first time this has happened since the financial crisis 10 years ago. The proportion has dwindled to single digits in recent days from about 80 percent when the gauge peaked at the end of August. Indian stocks, until recently Asia’s top performers, have slumped as surging oil prices, a plunging rupee and growing financial concerns about non-bank lenders soured investor sentiment.