Indian equities have entered a corrective phase. As of 20 March 2026, the Nifty 50 is down approximately 11–12% year-to-date, with sharper declines in rate-sensitive and export-linked sectors. The Nifty IT index, for instance, has corrected over 20% and is roughly 25% below its recent peak.
The drawdown has been driven by a combination of…
