Economic TimesLean R·
India's next stock market headache isn't oil but a bigger storm brewing in the skies
India's stock market faces a new challenge as a severe "Super El Niño" threatens the monsoon, impacting 56% of GDP tied to consumption. This follows a decade-low monsoon start, with rainfall deficits exceeding previous El Niño years. Analysts warn of domestic demand destruction, range-bound markets, and downgrades in consumer sectors, despite easing oil prices. The situation could strain rural incomes and government finances.
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