The selloff in Indian equities has spread deep into the broader market, with 350 of the NSE 500 stocks delivering negative returns over the last two months, as elevated crude prices, hardening US bond yields, a weak rupee and sustained foreign selling hurt risk appetite.
The damage was sharp across sectors, with the worst-hit stocks falling between 18% and 64% in two months. Zee Entertainment fell 34%, while PB Fintech declined 33%. India Cements, Power Finance Corporation, Avanti Feeds, Godrej Properties, CreditAccess Grameen, Adani Energy Solutions and Godrej Consumer Products were also among the major losers.
