The 50-share Nifty is down 15.4 per cent in the year-to-date in dollar terms and lags most Asian peers, except China, Indonesia and Philippines
The Indian equity market is the only major market to have seen an expansion in price/earnings ratio compared to all other peers
While the Foundation of Independent Financial Advisors contended India was the third least expensive for equity schemes, Morningstar's GFIE 2017 report claimed India was among the most expensive
Equity funds took in a net Rs 66.57 billion ($1 billion), the least since last February, data from the Association of Mutual Funds in India show
Stocks focused on rural India may fare better as the government is likely to respond to any actual/perceived loss of political ground by increasing social/rural expenditure
A massive sell-off in the banking sector stocks was triggered last week after the Reserve Bank of India (RBI) announced new norms to deal with non-performing assets
In contrast, the BSE market breadth was skewed in favour of the bears, with 1,545 declines and 953 advances
The 30-scrip sensitive index (Sensex) of the BSE opened at 26,468.27 points against the previous close at 26,635.75 points
According to the financial services major, Indian equity market has underperformed and its premium to the rest of the region is shrinking