Is there a bubble waiting to burst in India?

Indian stocks are rising right now. The country’s benchmark Nifty 50 index has doubled in just five years, beating the pace of Japan, China and even the US. And it’s all driven by millions of domestic investors entering the market for the first time. But this boom has regulators sounding the alarm. The FT’s Mumbai correspondent Chris Kay explains why a bubble could be forming and what could happen to these first-time investors if it bursts.

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For further reading:

Young investors betting on Indian stocks

Investors have bet that Narendra Modi’s election win will extend India’s stock market boom

India is closing in on China as the largest emerging market

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On X, follow Chris Kay (@christopherkay) and Saffeya Ahmed (@saffeya_ahmed).

Read a transcript of this episode on FT.com

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