 "After $30 bn exodus, foreign funds trickle back into Indian equities")
Foreign funds are showing signs of a return to Indian equities as recent declines in oil prices and the dollar bring some reprieve for emerging markets.
Overseas investors have bought a net $1 billion of local stocks in the first three days of this week, according to the latest available exchange data compiled by Bloomberg. That puts them on course for the first weekly purchases since April. They dumped almost $30 billion of shares in the year through last Friday.
A return of foreign funds could boost Indian stocks, which have been resilient this year even as their EM peers suffered the worst first-half performance in 24 years amid concerns on US interest-rate hikes and China’s pandemic lockdowns. India’s benchmark S&P BSE Sensex Index has climbed almost 8% over the past month, the best performance in Asia.
Overseas investors have bought a net $1 billion of local stocks in the first three days of this week, according to the latest available exchange data compiled by Bloomberg. That puts them on course for the first weekly purchases since April. They dumped almost $30 billion of shares in the year through last Friday.
A return of foreign funds could boost Indian stocks, which have been resilient this year even as their EM peers suffered the worst first-half performance in 24 years amid concerns on US interest-rate hikes and China’s pandemic lockdowns. India’s benchmark S&P BSE Sensex Index has climbed almost 8% over the past month, the best performance in Asia.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Quarterly Starter
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
Save 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%