NIFTY rose 8% in March and Rupee gained 2.3% against the US dollar. This helped Indian markets to catch-up with year-to-date under-performance relative to the emerging markets (Year-to-date, MSCI-EM is up 9.6%, MSCI India 6.6%, NIFTY 7.6% in US$ terms). FIIs have invested over US$ 10 billion between 25th Feb to 3rdh April 2019 (US$ 8.5 billion in equity and US$ 2 billion in debt). The recent foreign inflows are more a reflection of India catching up with the other emerging markets. The global n...
