Two years on from September-end 2024, when foreign investors began pulling money out of Indian equities, a lot has changed for Dalal Street. The Sensex has lost 13.6% and the Nifty 11.6% in absolute terms, even as peers like Korea (167%) and Taiwan (110%) surged.
ET Bureau
FPI outflows of over Rs 2.17 lakh crore in the past year have been offset by strong domestic mutual fund inflows of Rs 4.98 lakh crore, cushioning the market from a sharper drop.
The AI trade elsewhere, the West Asia crisis, higher oil prices and a weaker rupee have weighed on India, with sectoral casualties such as IT (-33.4%) and FMCG (-30.2%) deepening the underperformance. The bright spot: valuations have cooled, with the Sensex’s trailing PE at 20.3 times, below its five- and ten-year averages, leaving India relatively cheaper than many global peers. Read more: Rupee’s likely to slip despite RBI push for stability
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