Market expert Rajeev Agrawal says global equity flows are increasingly concentrated in AI-related winners, notably semiconductor-heavy economies like Korea, while India’s exposure remains limited. He also flags the impact of higher crude oil and West Asia geopolitical tensions, though he expects gradual easing. For investors, he prefers domestic-oriented Indian cyclicals, especially renewable energy and financials, for steadier returns.
Foreign investors have sold Indian stocks worth over ₹1.8 lakh crore in 2026, already surpassing the total outflows recorded for 2025. The steep selling is the highest in the first four months of any year, driven by a weak rupee, high oil prices, and fewer AI-related investment opportunities as capital shifts to semiconductor and AI plays like South Korea and Taiwan.
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