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Market move▼ Bearish for Indian equities
Foreign investors sell $2.1 billion of Indian equities as oil prices surge
The brief
- Global funds sold $2.1 billion of local equities so far this month
- The sales followed two straight months of foreign investor purchases
- Foreign outflows and higher crude pressure Indian equities, the rupee and oil-sensitive sectors such as aviation and paints
- Nomura sees earnings resilience, but oil, geopolitics weigh on valuations
- Crude Future near $105 but India’s basket hits $120: Why physical oil costs $15 more
- India urged to strengthen domestic oil exploration for energy security
- Oil gains for second session as Middle East supply concerns persist
Indian stocks fall as oil and geopolitical risks rise
Indian shares sank to six-month lows amid oil-price concerns and geopolitical risks, with the Sensex down 1,124 points and the Nifty below 22,800 on September 28. More than ₹7.5 lakh crore in market value was erased, while foreign fund outflows and elevated crude weighed on trading.
Wednesday, 30 September
- Foreign investors sell $2.1 billion of Indian equities as oil prices surge