A six-month slide in Indian equities has put the country’s sharemarket on the radar of Australian fund managers, who say they see plenty of value in the ultra-cheap valuations of many of the listed companies.

India’s benchmark, the NSE Nifty 50 Index, dropped for a record 10 sessions before rebounding 1.2 per cent on Wednesday. It has slumped 16 per cent from a peak in September amid relentless selling by foreign investors.