Softer First Quarter Earnings Pull India’s NIFTY Down By 1%

Mirroring softer 1Q earnings and weaker sentiment globally, India’s NIFTY dropped 1% last week, with 9 out of 19 stocks missing estimates. Sunil Koul and team at Goldman Sachs in their July 24, 2015 report “India Weekly Kickstart” point out that Indian equities witnessed foreign inflows of $170 million last week. Goldman Sachs retains overweight on India Analysing the fund flows, Koul and colleagues at Goldman Sachs point out that equities saw foreign inflows of $170 million lat week, with YTD, FIIs net bought $7.4 billion while DIIs bought $3.8 billion in equities. Joining the trend, bonds have also witnessed…