- A recent survey found that 32 per cent of fund managers were net underweight on Indian stocks, making India the least-favoured stock market in Asia.
- Tejashwi Yadav, a leader of the Rashtriya Janata Dal, was detained during a protest against the Bihar Police firing an AK-47 rifle on youth demonstrating last month against alleged irregularities in competitive examinations.
- Misa Bharti, Tejashwi Yadav's sister and party MP, was also detained while participating in a march to the governor’s residence.
India has emerged as Asia's least-preferred stock market, with a recent Bank of America survey revealing that 32% of fund managers are net underweight on Indian stocks. This marks a significant shift, as India has replaced Indonesia in this unfavorable ranking.
The survey, conducted between 7 and 13 August, included responses from fund managers managing a total of $272 billion in assets. Concerns over rising energy prices and geopolitical tensions have contributed to this negative sentiment towards Indian equities, which have been described as among the world's worst performers this year.
In a related event, Rashtriya Janata Dal leader Tejashwi Yadav was detained during a protest against police violence in Bihar. The protest was sparked by an incident where the Bihar Police allegedly fired an AK-47 rifle at youth demonstrating against irregularities in competitive examinations. Yadav's sister, Misa Bharti, was also detained while participating in a march to the governor's residence.23
The combination of poor market performance and political unrest highlights the challenges facing India at this time, as both domestic and international investors reassess their positions.
“The survey conducted between 7 and 13 August revealed that 32% of fund managers are net underweight on Indian stocks, raising concerns about investor confidence. Additionally, Tejashwi Yadav and his sister Misa Bharti were detained during a protest against the Bihar Police's actions in a recent incident involving youth demonstrations.”
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