India Stocks Set For Largest Foreign Outflows Since March 2020
- Surging Covid case count prompts exodus of funds from equities
- India stocks lag Asia peers as virus forces new restrictions
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India stocks are set for the largest monthly foreign outflows in over an year, as the deadly wave of coronavirus, which has tested the limits of the nation’s health systems, has put the business recovery in doubt.
Overseas investors have sold $1.1 billion of local stocks through April 23, the biggest outflow since March last year, when the nation imposed one of the strictest nationwide lockdown in the world to curb the spread of the pandemic. With 17.6 million cases in total, the nation is now the second-worst affected country globally.