Bears Circle India Stocks as $2 Billion Fraud Damps Mood: Chart

(Bloomberg) -- Indian equities have missed the rebound in emerging markets. The nation’s stocks have extended a slump that began late January and short sellers are betting record amounts that more declines are in store. Disappointment over the federal budget presented Feb. 1 and concern that a $2 billion bank fraud that came to light last week could turn into a contagion are applying the brakes on one of the world’s most expensive markets.

To contact the reporter on this story: Srinivasan Sivabalan in London at ssivabalan@bloomberg.net.

To contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, Ravil Shirodkar, Adam Haigh

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