JM Financial: Oil, not valuations, will bring FIIs back
Foreign investors have pulled about $64 billion from Indian shares in two years, and the brokerage says Brent must fall below $105 before that eases.
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FIIs have sold about $64 billion of Indian equities over two years despite cheaper valuations, JM Financial said, The Economic Times reported.
The brokerage sees Brent above $105 a barrel as the danger zone and below $90 as a more decisive shift.
Its base case expects the first three-month run of inflows in January-March 2027.