The times of DIIs

Indian equity markets are known to be sensitive to the flows from foreign institutional investors (FIIs) - good FII inflows can take the market up; outflows can lead to a significant fall. This correlation has been so strong that it seemed like the destiny of Indian markets was in the hands of foreigners. The last one year has seen some significant international events taking place: Brexit, Trump's election and a strengthening US economy. On the domestic front, there was demonetisation. A strengthening US economy and job growth was responsible for two rate hikes by the US Fed last year. This led to