As FII relentlessly sell Indian equities, the markets must spend increasing efforts on what are the tailwinds available now. For one, the recent budget announcements on tax cuts and increase in KCC limits can give solid consumption boost.
RBI net forex buys hit a record $43 billion in August, balances it with swaps
The Reserve Bank of India recorded a net purchase of $43.26 billion in August’s foreign exchange market. This was done to manage significant dollar inflows