Foreign Investors Pull $3.2 Billion From Indian Markets as Oil Rally Returns

The renewed rally in oil prices above $100 per barrel Brent has prompted foreign investors to pull money out of India’s stock and bond markets at the highest pace since March, when the start of the Iran war and the oil supply crunch in Asia launched a massive exodus from Asian assets.

Following the largest outflows this year in March, India’s assets returned to booking inflows in April, May, June, and July, with a record of inflows in June, according to data from Clearing Corporation of India Limited compiled by Bloomberg.