Economics
BRICs Abandoned by Locals as Fund Outflows Reach 1996 High
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The 2.5 million rupees ($45,984) Nirav Vora had in the Indian stock market six years ago have plunged by 72 percent. Now the 39-year-old father of two in Mumbai, who depends on investment income for his livelihood, is plowing money into government bonds.
“The confidence of small investors is rock bottom,” Vora said by phone on Feb. 26. “They have no faith in the markets.”