Anshu Kapoor of Nuvama Asset Management has cautioned that recent foreign buying in Indian stocks is not a sustained shift. The firm highlighted that foreign flows remain volatile, and domestic investment strength continues to act as the primary market driver.
Anshu Kapoor, President and Head of Nuvama Asset Management, has advised investors to remain cautious about recent foreign portfolio investor (FPI) buying in Indian equities. He noted that these flows have been inconsistent, with frequent cycles of buying and selling that do not yet point to a clear, long-term change in global sentiment toward India.
While foreign flows continue to fluctuate, the Indian market has been increasingly supported by domestic institutional strength. Data shows that Monthly Systematic Investment Plan (SIP) contributions reached Rs 32,297 crore in August 2026. This consistent domestic liquidity has helped absorb the impact of FPI volatility and supported the primary market, which saw India rank first globally in listing count during 2025.
Strategic Shift to Private Markets
Nuvama is focusing on areas beyond traditional equities, pointing to significant growth in India’s private markets. The firm is expanding its product lineup to include commercial real estate funds, private equity strategies, and specialized investment funds. This aligns with a broader industry shift where alternative investments are gaining traction among institutional and high-net-worth investors.
For Nuvama Wealth Management, which operates within this competitive financial services landscape, the business environment remains busy but challenging. The company reported resilient financial results for FY26, posting a profit after tax of Rs 1,041 crore.
Market Performance and Industry Risks
Shares of Nuvama Wealth Management were trading at Rs 1,713.55 on September 11, 2026, marking a decline of approximately 2.28% during the session amid broader market volatility. Investors in the wealth and asset management sector are currently monitoring several risks, including intense competition for market share and the pressure of rising bond yields on capital market-linked stocks.
Additionally, companies in this space continue to navigate regulatory and compliance scrutiny, which is a standard part of operating in the financial services sector. While these factors are part of the daily operational landscape, they require ongoing attention from shareholders.
The key monitorable for investors moving forward will be whether foreign flows settle into a more consistent pattern or if the volatility seen in recent quarters persists. Additionally, the ability of domestic flows to continue supporting the market amid high IPO supply and global macroeconomic shifts will remain a critical factor to track.