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(From The Economic Times)

Byline: Puneet Jain

The stock market is getting a huge battering on unprecedented selling by FIIs. India is not alone in this carnage. Virtually every stock market across the world is facing a similar fall. The decline has been particularly sharp for the emerging markets, which had seen the largest inflows from investors in the past two months.

Until recently, India had been one of the best performing market in the world, and therefore fund managers are rushing to book profits where they are available.

The current situation bears an uncanny resemblance to the events that preceded the infamous May 17 crash last …