Key Points
Even though the Nifty IT index has outperformed the Bank Nifty this year so far, brokerage house Elara Capital suggests moving back to financials from IT, gradually..
The Bank Nifty to NSE IT index ratio has returned to a strong support level, said Elara, adding that the slow reversal of global liquidity back into financials (as opposed to IT) over the past 6 months may act as a catalyst for a robust reversal in this trend...
Overall, emerging market (EM) flows have remained negative for the eighth consecutive week, primarily driven by outflows from Global Emerging Market (GEM) funds, the brokerage informed..
Since October 2023, India-dedicated funds have seen inflows of $2.5 billion, but total India inflows were only $457 million, influenced by redemptions from GEM funds, impacting the overall allocation, further noted the Elara...
"Additionally, India-dedicated inflows from US-domiciled funds spiked to a four-month high of $114 million, while flows from Japan remained slow," it said..
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