Foreign funds turn off supply, leave Indian markets gasping


Indian stocks were the third-worst performers among leading emerging markets in September as foreign portfolio investors pulled money out of the country at the fastest pace since November last year amid a slide in the rupee. Market participants said foreigners shifted money from the expensively valued domestic shares to cheaper destinations on worries that corporate earnings growth will take time to revive.  Repeated comments by the US Federal Reserve on normalisation of monetary policy have also affected sentiment in emerging markets, such as India, with high foreign holdings. The Sensex fell 1.4% during the month while Nifty lost 1.3%. If not for…

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