Goldman Sachs has picked 12 Indian stocks as medium-term alpha plays even as it warns the record $22 billion FII selloff in 2026 could extend further. Foreign investors have already withdrawn more than last year’s full total, driving one of India’s sharpest equity outflows in over two decades. The move comes amid persistent global risk-off sentiment.
Foreign investors stayed net sellers of Indian equities in April, but the outflow pace eased sharply versus March. FIIs shifted to buying in power, capital goods and metals, while financial services, healthcare, oil & gas and automobiles saw continued heavy selling pressure. The divergence points to sector-specific bets as global uncertainty persists.
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Vote counting kicks off today for assembly elections in West Bengal, Assam, Tamil Nadu, Kerala and Puducherry, with traders bracing for a volatile week. Early vote trends could surface within two hours, while a clearer picture may emerge by late morning. Investors are urged to look past political noise and track macro drivers like crude oil and foreign fund flows.
The rupee has crossed 95 per dollar amid structural pressure, foreign outflows, and elevated oil prices. The RBI’s limits on banks’ forex positions target speculation and arbitrage, but a move toward 100 could hit import-heavy industries and rattle financial markets. Exporters like IT and pharma may see some support, yet experts warn the currency remains under sustained stress.
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