Global Money Has Started Tiptoeing Back Into Indian Equities
- Foreigners plowed $985.5 million in two sessions until Monday
- Indian ETFs and mutual funds once again seeing inflows
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Foreigners have started trimming their underweight stance on Indian stocks as signs emerge that Prime Minister Narendra Modi will continue to pursue reforms even with the new coalition government.
Overseas investors purchased stocks worth a total of $985.5 million on Friday and Monday, according to data compiled by Bloomberg. That helped India’s equity benchmark recoup election-related losses and reach a record earlier this week. Their return signals that they may be getting comfortable with valuations in the nation’s nearly $5 trillion equity market.