BENGALURU -- India's slowing economy is taking the shine off the country's stock markets after a monthslong bull run, erasing roughly $700 billion in market value from companies listed on the Bombay Stock Exchange versus the peak in September last year.
Sluggish middle-class consumption is behind the slowdown. Some analysts insist interest rate cuts could boost borrowing and support spending, but the rupee's prolonged weakness is a formidable challenge for the Reserve Bank of India, the country's central bank, which is scheduled to hold a three-day meeting, starting Wednesday.
