Indian markets outperform global peers in April with $1.13 billion equity inflows
The Indian markets exceeded expectations in April by defying concerns over rising interest rates, much to the surprise of experts. This unexpected turn of events was mainly attributed to a consistent stream of positive macroeconomic indicators and a decrease in valuations, which attracted a considerable influx of $1.13 billion in equity flows.
As a result, the benchmark Sensex and Nifty have emerged as top performers among major global equity markets for the month.
“India seems to be back in favour in April 2023 as far as FPI flows are concerned,” said Deepak Jasani, Head of Retail Research at HDFC Securities. “This may be due to a rise in risk appetite globally (and more so in emerging markets) on expectation of interest rate hikes and Indian macro numbers continuing to come in better than expected, relieving some concerns over the micro situation, too.”