India Slumps to Bottom of BofA's Asian Equity Ranking

India has fallen to the bottom of Bank of America's Asian equity ranking, with 32% of respondents showing a net underweight position on Indian equities. This is the lowest among major Asian markets.

The Nifty index in India has dropped around 8% so far this year, and July saw significant equity fund inflows of ₹246.97 billion. Despite weakening foreign conviction, domestic flows continue to fuel the market.

However, available data do not indicate a clear shift of Indian investors from equities into crypto, gold, or dollar-linked assets. This suggests mixed implications for crypto adoption and capital flows.