NEW YORK (Reuters) – Non-residents have pulled about $1.5 billion from Indian equities so far in July, reversing a robust development of inflows in earlier months, knowledge from the Institute of International Finance confirmed on Wednesday.
“Unlike other episodes, which mostly coincided with broader (emerging market) outflows such as August 2015 and October 2018, these outflows are largely contained to India,” the IIF stated in a report that features knowledge to July 22.
Indian equities had seen $11.34 billion in inflows from non-residents in the course of the first half of 2019, the info present. July might be the primary month of internet outflows from Indian equities since $75 million exited in January.
The iShares MSCI India ETF rose 5.9% in the primary half of the yr, gaining as a lot as 9.four% for the yr when it peaked in June. The fund has fallen four.2% so far in July.
Flows exercise between July eight and July 22 accounted for the fourth-largest two-week fairness outflow in India during the last 5 years, in accordance with the IIF.
Reporting by Rodrigo Campos; Editing by Lisa Shumaker