New Delhi, Jan. 30 -- January turned out to be a turbulent period for the Indian stock market, as unfavourable global cues and mixed December-quarter earnings triggered a sharp sell-off across segments. Even the much-awaited free trade agreement between India and the European Union failed to lift investor sentiment, with the Nifty 50 recording its worst January performance in recent years.

Although Indian equities began the year on a firm note, with the Nifty 50 scaling a fresh record high of 26,373, optimism quickly faded following US military action against Venezuela and the capture of President Nicolas Maduro, which heightened geopolitical tensions.

This was further compounded by renewed tensions in the Middle East after US President...