Stocks in India Find Local Support Amid Exodus of Global Funds

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Domestic institutional investors, including mutual funds and insurance companies, brought shares worth $1.3 billion this month through Wednesday, buffering net outflows of overseas funds totaling a similar amount as of April 28. It’s the second straight month of local net buying, while foreign withdrawals are on course for the most since March last year, when India’s government imposed what were among the world’s strictest stay-at-home orders to curb community transmissions of Covid-19.

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