There is a growing worry that amateur investors are moving their savings into equities without understanding valuations. As the sell-off continues, will they end up paying a big price?
The Indian stock market has had a difficult few months. The NSE Nifty 50 Index declined for 10 straight days recently — an unusually sustained dip. Policymakers in New Delhi tend to maintain a lordly indifference to turbulence in equities. But, on this occasion, they need to pay closer attention.