India's stock market faces test as outflows surge

China is drawing money away on stimulus hopes

Rising food prices are a worry for India during the Diwali festival of lights. © AP

FUMITO AKIYAMA, NQN staff writer

October 31, 2024 02:37 JST

SINGAPORE -- Diwali may be India's festive season, but the stock market is in no mood for celebrating as global investors pull money out of the country.

The benchmark Sensex index was down roughly 5% since the start of October as of Tuesday. The index had hit a record closing high of 85,836 on Sept. 26, so investors may be wary of overpaying.