India stocks draw biggest foreign inflow in nearly six years as oil falls, AI trade cools
Zawya · Vivek Kumar M, Bharath Rajeswaran ·
The buying came as oil prices fell sharply after the U.S. midterm elections
MUMBAI - Foreign investors bought a net $1.6 billion of Indian stocks on Thursday, their biggest daily purchase in nearly six years, as falling oil prices and a retreat from AI-linked shares boosted India's appeal.
Overseas investors bought 147.96 billion rupees of shares, provisional stock exchange data showed, the most since February 24, 2021, when purchases of 287.39 billion rupees included a large promoter-driven block deal.
The buying came as oil prices fell sharply after the U.S. midterm elections, while a selloff in artificial intelligence-related stocks prompted global funds to rebalance their exposure.