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INDIA: Continued Outflows Pressure Indian Stocks to Lowest in 9-Months

INDIA
IndiaEM BulletBulletAPACEmerging Market News

Continued outflows from overseas investors remains a key headwind for Indian equities, with the Nifty 50 index 0.17% lower on the session and at its lowest since June 2024. The index is now around 16% lower compared to the September peak, with the recent announcements of government measures to boost consumption and efforts to negotiate a bilateral trade agreement with the US doing little to impede downside momentum.

  • Meanwhile, USD/INR looks set to end the session close to flat, with Reuters noting that dollar bids from foreign banks and local oil companies have been offset by a broader weaker greenback. Foreign investors have sold around $14bln from Indian equities this year so far, maintaining pressure on the rupee. More broadly, large outflows from Asian stocks were recorded on Friday for South Korea, while outflows increased across Indonesia, Thailand, Malaysia & Philippines (see here). Reciprocal tariffs from the Trump administration provides a key risk across the EM FX space.
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Continued outflows from overseas investors remains a key headwind for Indian equities, with the Nifty 50 index 0.17% lower on the session and at its lowest since June 2024. The index is now around 16% lower compared to the September peak, with the recent announcements of government measures to boost consumption and efforts to negotiate a bilateral trade agreement with the US doing little to impede downside momentum.

  • Meanwhile, USD/INR looks set to end the session close to flat, with Reuters noting that dollar bids from foreign banks and local oil companies have been offset by a broader weaker greenback. Foreign investors have sold around $14bln from Indian equities this year so far, maintaining pressure on the rupee. More broadly, large outflows from Asian stocks were recorded on Friday for South Korea, while outflows increased across Indonesia, Thailand, Malaysia & Philippines (see here). Reciprocal tariffs from the Trump administration provides a key risk across the EM FX space.