Foreigners Dump Record $12 Billion India Stocks in March Amid War Concerns

• Foreign investors offloaded a net $11.7 billion from Indian equities by March 25, marking the steepest monthly exodus ever.
• Total outflows this year exceed $13 billion, nearing levels seen a year ago, driven by global retreat from riskier assets and surging energy costs.
• Soaring energy costs, a weak rupee, nascent earnings recovery, and rich equity valuations are worsening pressures on India's market.
• Goldman Sachs, Morgan Stanley, and UBS Global Wealth Management have lowered expectations for Indian equities due to 'higher-for-longer' energy prices.
• Domestic institutional investors have absorbed over $13 billion in selling, but foreign outflows persist, keeping market volatility high.