--- title: "由于油价冲击和对经济增长的担忧，全球基金正以创纪录的速度抛售印度股票" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/282403565.md" description: "全球基金正迅速撤出印度股票，仅在三个月内就撤回了 188.4 亿美元，超过了之前的全年记录。持续的美伊冲突加剧了对印度经济前景的担忧，导致市场压力显著，Nifty 50 指数下跌。尽管国内投资提供了一定支持，但由于地缘政治风险和印度市场缺乏吸引人的叙事，外资兴趣减弱。分析师建议，如果地缘政治紧张局势缓解且估值变得更具吸引力，外资流入可能会恢复" datetime: "2026-04-10T20:02:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282403565.md) - [en](https://longbridge.com/en/news/282403565.md) - [zh-HK](https://longbridge.com/zh-HK/news/282403565.md) --- # 由于油价冲击和对经济增长的担忧，全球基金正以创纪录的速度抛售印度股票 **By Ashutosh Joshi** Global funds are dumping Indian equities at a record clip as an energy shock from the US-Iran war threatens to derail the outlook of the world’s fastest-growing major economy. In just over three months, they have pulled $18.84 billion from local shares, edging past the full-year record outflow of $18.79 billion seen in 2025, according to Central Depository Services India Ltd. The sustained selling has kept markets under pressure, and even a modest rebound following a temporary ceasefire earlier this week has done little to lift the mood. Local shares remain bruised, with over $600 billion wiped off their value from last year’s peak. India’s $4.8 trillion equity market is losing some of its relative appeal, as global capital rotates toward artificial intelligence-linked economies where semiconductor demand is the bigger driver. The oil crisis has magnified existing concerns for the country — from recent rupee volatility to a still-fragile earnings recovery — while also underlining another problem: a lack of a clear catalyst to bring foreign money back. “Indian stocks are missing a narrative,” said Abhishek Thepade, an Oslo-based portfolio manager with DNB Asset Management AS. “Earnings are undergoing a cyclical slowdown, while weakening currency and the impact of artificial intelligence on local software companies also impact the outlook.” Although tech-heavy South Korea and Taiwan saw larger headline outflows in March — totaling $24 billion and $29 billion respectively — the peace deal may give them a stronger boost by refocusing investor attention on AI-driven chip demand, a factor largely absent in India. That gap is already showing up in flows. South Korean and Taiwanese equities have seen inflows of $3.6 billion and $5.6 billion, respectively, so far this month. In contrast, global funds have pulled $3 billion from Indian equities, data compiled by Bloomberg show. To be sure, domestic money continues to cushion the blow. Mutual funds and institutions have poured in $31 billion this year, with retail investors doubling down via record inflows into monthly equity investment plans last month, even amid heightened volatility. Still, that support has not been enough to counter persistent foreign selling. Some investors see scope for a reversal once the Middle East tensions ease. “Now that India’s valuations have become reasonable, foreign flows could return once the current geopolitical uncertainty settles, though the timing remains uncertain,” said Harsha Upadhyaya, chief investment officer for equities at Kotak Mahindra Asset Management Co. > Asked someone from the industry whether foreign investors are still interested in allocating to India. The TLDR: Interest has pretty much died out. India is seen as geopolitically exposed, especially to an oil shock. There are no real AI plays. Valuations are rich. And the rupee… > > — Nithin Kamath (@Nithin0dha) April 9, 2026 Still, a steady retreat by global funds has led to more than $34 billion of outflows from Indian equities over the past two years through March — a period that’s seen MSCI Inc.’s India gauge trail regional peers in all but two of the past eight quarters. The Nifty 50 Index is down 8 per cent this year, while the foreign exodus had recently pushed the rupee to record lows, forcing the central bank to step in to stabilise the currency. Even after a recent moderation, valuations remain a sticking point. The Nifty 50 remains expensive relative to emerging-market peers, BofA Securities said in a note this week, adding it expects India to lag behind rivals. ### 相关股票 - [INDY.US](https://longbridge.com/zh-CN/quote/INDY.US.md) - [IND.US](https://longbridge.com/zh-CN/quote/IND.US.md) - [NDIA.AU](https://longbridge.com/zh-CN/quote/NDIA.AU.md) - [03015.HK](https://longbridge.com/zh-CN/quote/03015.HK.md) ## 相关资讯与研究 - [机构：油价 “负面杀伤力” 拖累印度股市](https://longbridge.com/zh-CN/news/285700429.md) - [印度股市，正在被资本抛弃](https://longbridge.com/zh-CN/news/286040365.md) - [Ceragon Q1 营收超预期，印度订单激增 86%，重申全年指引](https://longbridge.com/zh-CN/news/286933516.md) - [海湾国家的危险信号，不在油价而在 PMI](https://longbridge.com/zh-CN/news/286347884.md) - [4 月经济增长：周期换档？](https://longbridge.com/zh-CN/news/286768548.md)