In the first-ever episode of Risk vs Reward, businessline’s K Bharat Kumar and Hari Viswanath, Editor, bl.Portfolio, tackle a strange paradox: India’s booming love for stocks might actually be hurting the Rupee.

When we buy local shares at record-high prices from exiting foreign investors, it’s essentially a massive “import” of ownership—and it’s putting the squeeze on our balance of payments.

We break down the five structural factors hitting the economy right now, from high US bond yields to the “asset arbitrage” that big global companies are using to cash out of India.

The good news? History says don’t write India off. While the short term looks rocky, our 5-year rolling returns are among the most resilient in the world.

Stay tuned to Part 02 of this episode for more insights.

Published on May 28, 2026