Foreign investors poured nearly $5 billion into Indian stocks last week, driven by a rally in the Nifty 50 and HSBC's upgrade to overweight. The benchmark index slipped during a Diwali session but recovered on broader market gains. India's low AI exposure is attracting funds away from the underperforming regional AI trade.
Oil price declines and a weaker rupee further supported the bullish sentiment. Trading was abbreviated by a public holiday. A separate report highlights record foreign inflows of over $3.6 billion through Thursday, marking a dramatic turnaround from earlier exodus.
Office leasing demand remains healthy, driven by global capability centers despite AI concerns. Angel One overtook Zerodha as India's second-largest broker, boosted by a Jio Platforms IPO campaign. Premium housing recovery is underway, according to JLL, supported by rising rents and investor payouts.
Nuvama forecasts continued retail consumption growth amid higher interest rates and geopolitical risks.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing