BRICs Abandoned by Locals With Fund Outflows Highest Since 1996

BRICs Abandoned by Locals With Fund Outflows Highest Since 1996

Brent Lewin/Bloomberg

A ticker lists stocks in The Calcutta Stock Exchange Ltd.'s building in Kolkata. “The stock market is a gambling den,” said Kishor Bafna, a 42-year-old interior designer who lives in Thane, near Mumbai. Bafna invests in gold, fixed deposits and insurance policies provided by Life Insurance Corp. of India, he said in a Feb. 27 interview.