India’s Stock Rout Creates Openings for Bargain Hunters

Good morning...

I’m Alex Gabriel Simon in Mumbai with your daily dose of market news and analysis before the opening bell.

A three-day advance in the Nifty 50 Index — during which the benchmark has climbed nearly 3% — suggests that some investors are returning to Indian stocks following a monthslong selloff. Today will likely prove to be a good test of this positive trend, as the mood in global markets remains jittery after US President Donald Trump escalated threats to obliterate key Iranian infrastructure if his terms aren’t met before a deadline. Overseas investors have pulled a net $16.8 billion from Indian shares so far this year, a significant drag on the market. Focus will soon shift to the RBI’s policy decision due tomorrow, where investors will be keenly watching the central bank’s commentary on the rupee as well as the inflation outlook.