Retail investors’ favorite stocks are down a median 20% since January 2025.
The National Stock Exchange (NSE) building in Mumbai, India, on Monday, Nov. 10, 2025. SoftBank Group Corp.-backed Lenskart Solutions Ltd. swung between gains and losses on its Mumbai trading debut after the company’s initial public offering raised 72.8 billion rupees ($821 million) and fueled a debate over soaring Indian startup valuations. Photographer: Dhiraj Singh/Bloomberg
India’s central bank is likely to start buying dollars to bolster its foreign-exchange reserves once the rupee strengthens to around 88—89 per dollar, according to Citigroup Inc.’s local markets head.
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