After six straight months of net buying, overseas funds have sold $1.93 billion worth of Indian stocks so far in September, according to data compiled by Bloomberg. The last such run of foreign inflows lasted until March 2021.
(Bloomberg) Foreigners are set to end their longest monthly buying streak of India equities in two and a half years as the surge in oil prices dampens the South Asian market’s otherwise positive outlook. Most Read from BloombergPakistan Rupee Set to Become Top Performing Currency Globally Biden Impeachment Hearing Heavy on Politics, Light on SubstanceUAW Aims For At Least 30% Wage Bump to Woo New MembersTop Chinese Scientist Claims India Moon Landing Nowhere Near South Pole‘Fortnite’ Maker Ep
"We see recent softness driven by higher oil prices as an opportunity to raise exposure," said Nomura s analysts including Chetan Seth, Anshuman Agarwal, and Ankit Yadav in the firm s Asia strategy note to clients. "While this weakness may persist in the near term, thus presenting even better timing, we think the window of opportunity might not be open for too long."
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