Indian markets have come off sharply from their highs in September. What has triggered this fall?
Many in the market mention record foreign portfolio outflows. Let's not look at these numbers only in absolute terms. In terms of percentage of market capitalization or percentage of holdings, the selloff isn't off the charts. The key, in our view, has been weak earnings in the context of rich valuations. Markets were expecting a weak second-quarter (Q2) earnings season, but the actual numbers were worse than these already low expectations.
Will foreign portfolio investor (FPI) selling continue? What will it take for foreign outflows to stem the tide?
This story is from the November 12, 2024 edition of Business Standard.
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This story is from the November 12, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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