Indian equities ‘probably oversold’: FIIs warm up after months of outflows
Foreign investors are turning positive on Indian equities after months of outflows, with Motilal Oswal Financial Services chairman Raamdeo Agrawal saying they are 'probably oversold'.
Agrawal cited the lack of a strong AI investment theme in India and higher valuations as reasons for previous outflows.
He noted a reversal in the last week, with FIIs looking at India more favorably, but warned geopolitical uncertainties and elevated oil prices remain risks.
India's domestic economy is performing well with healthy auto sales, strong GST collections, and robust credit growth of about 18%.
Agrawal expects the Reserve Bank of India to align its monetary policy with the US Federal Reserve, which has kept rates on pause.
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