Huge local buying fails to lift indices

Domestic institutions have invested $82.2 billion in India’s equity markets, while FPIs sold $27.2 billion worth of shares. Despite this, benchmark indices remain stagnant. FPIs are concerned about expensive valuations, tepid corporate earnings, and have allocated less to India than other markets. Nifty50 currently trades at a P/E multiple of 22.1X, compared to 18.3X in […]