Market move▼ Bearish for Indian equities
India remains out of favour as oil concerns drive FII caution, says EPFR Global
The brief
- Higher oil prices and India’s oil dependency are weighing on foreign investor allocations
- Oil-driven FII caution can pressure Indian equities, especially oil-sensitive sectors
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- Oil remains stuck near $100 a barrel
Foreign outflows and global risks pressure Indian stocks
Indian equities fell sharply as crude prices and global bond yields rose, with foreign investors withdrawing over ₹3 lakh crore over nine months, including ₹35,860 crore in September. The selloff left 252 Nifty 500 stocks more than 30% below their highs and 84% of Nifty 50 stocks below their 200-day moving averages.
Tuesday, 6 October
- India remains out of favour as oil concerns drive FII caution, says EPFR Global