Record foreign investors' exodus casts pall over Indian stock market

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Record foreign investors' exodus casts pall over Indian stock market - Business Standard

Quick Summary:

Global funds pulled out more than $10 billion on a net basis in October, helping drive the benchmark stock index toward a so-called technical correction.

The past few years have seen India emerge as a preferred investment destination, thanks to its breakneck economic growth, surging corporate profits and a broader shift away from China.

Global investors tend to invest in certain sectors within India, “and I think some of those have some stretched valuations,” Brian Kersmanc, a portfolio manager at GQG Partners, said on Bloomberg Television last week.