While global liquidity is pushing Emerging Markets (EM) to the brink of a historic breakout, the Indian stock market appears to be the odd one out. A recent note by brokerage firm Elara Capital highlights a sharp divergence: while global money is chasing equities in China, Taiwan, South Korea and Brazil, foreign sentiment toward India remains muted despite benchmark indices Nifty and Sensex revisiting earlier highs. Advertisement

According to Elara Capital's Global Liquidity Tracker report, India-dedicated funds are witnessing a prolonged exit. These funds recorded their 11th consecutive week of redemptions, with outflows of $208mn, the brokerage said. While there was a nominal net inflow of $148 million into India, this was solely driven by allocations from broader Global Emerging Marke

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