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Business Standard
29-04-2025
- Business
- Business Standard
Indian stock market's $489-bn equity rally is winning back global funds
Overseas investors turned net buyers in mid-April, drawn to the nation as a relative haven from tariff uncertainty Bloomberg Global funds' return to Indian equities suggests the likely extension of the recent rally in Asia's top-performing stock market. Overseas investors turned net buyers in mid-April, drawn to the nation as a relative haven from tariff uncertainty. They bought shares for seven straight session through April 24, with inflows reaching $91 million this month, according to data compiled by Bloomberg. On Friday alone, they plowed $345 million into local shares, provisional data show. The foreign inflows fill in what had been a missing piece in the rally that's propelled the Nifty 50 Index over 3 per cent this month, outperforming the MSCI Asia Pacific Index. A rate cut by the central bank and cash injections, which wiped out a monthslong cash deficit, have bolstered investor sentiment. 'Foreigners are coming back as India is perceived to be relatively better placed than other emerging markets due to its faster economic growth despite the trade war,' said Sneha Tulsyan, an investment analyst at Tokio Marine Asset Management International Pte. in Singapore. Expectations of further monetary easing and moderating crude oil prices will continue to drive a 'positive narrative' for India, she said. April's purchases put local equities on track for their second monthly foreign inflow since September, when a $26 billion exodus began that lasted until the end of February. The rebound from this month's low has added $489 billion to India's market value. While expensive valuations have left India's equity market short of ideas for some fund managers, the nation's domestically-driven market and low reliance on exports have lured investors seeking a refuge from the trade war. Many funds are increasing their India exposure, and even previously bearish brokers, like UBS Group AG, are becoming less wary. A key risk for India remains rising tensions with Pakistan after a deadly terror attack in Kashmir last week. For now, investors are looking past it, with the benchmark jumping the most since April 17 on Monday. 'Foreigners will continue to chase India as it offers fantastic opportunity to capture strong demographics, economy and upcoming global supply chains,' said Sumeet Rohra, a fund manager at Smartsun Capital Pte. 'Any dip due to the border tension will be an opportunity to add.'
Time of India
29-04-2025
- Business
- Time of India
D-Street's $489 billion rally is winning back global funds
Global funds are returning to Indian stocks, signaling that this month's rally in Asia's best-performing equity market likely has more legs. Having largely been sellers in the months since Indian benchmarks scaled records in September, foreigners are coming back amid growing optimism that a domestically-driven economy will make the South Asian nation withstand the global trade war better than most peers. A sharp advance from this month's low already boosted India's market's value by $489 billion to nearly $4.4 trillion at the end of last week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Overseas funds bought $589 million of Indian shares on a net basis last Friday, marking an eighth straight day of purchases, according to data compiled by Bloomberg. The buying streak means they have now invested about $680 million in April. At one point, they were sellers of more than $3 billion for the month. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. 'Foreigners are coming back as India is perceived to be relatively better placed than other emerging markets due to its faster economic growth despite the trade war,' said Sneha Tulsyan, an investment analyst at Tokio Marine Asset Management International Pte. in Singapore. Expectations of further monetary easing and moderating crude oil prices will continue to drive a 'positive narrative' for India, she said. Bloomberg Live Events Global money was the missing piece in India's recent rebound that was aided by purchases from local investors, an interest-rate cut and also the central bank's cash injections — which wiped out a monthslong cash deficit in the financial system. Money managers at Franklin Templeton and Federated Hermes have in recent days touted India as a bright spot amid global tariff uncertainties, while UBS Group AG has abandoned its long-held bearish view on the market. Sentiment may get a further lift from US Treasury Secretary Scott Bessent's latest comments, who said in an interview with CNBC that he wouldn't be surprised if a trade deal with India is the first to be announced. The benchmark NSE Nifty 50 Index has risen over 3% in April, almost double the gain in the broader MSCI Asia Pacific Index. The challenge for Indian stocks comes from relatively expensive valuations as well as rising tensions with neighboring Pakistan after last week's militant attacks in the northern region of Kashmir that killed 26 people. Some analysts have also warned of the risk of earnings downgrades for the market. Bloomberg For now, investors are looking past those concerns, with the benchmark jumping the most since April 17 on Monday. 'Foreigners will continue to chase India as it offers fantastic opportunity to capture strong demographics, economy and upcoming global supply chains,' said Sumeet Rohra, a fund manager at Smartsun Capital Pte. 'Any dip due to the border tension will be an opportunity to add.'
