India falls to Asia's least-preferred market: 32% of fund managers underweight
Bank of America's August survey of 98 fund managers running $272 billion found 32% net underweight on Indian stocks, the worst reading in Asia, replacing Indonesia. The bearishness is not just price: managers cite missing AI exposure, weak growth, patchy reforms and elevated valuations. That lands awkwardly against Nifty earnings that just rose 18% year on year. The index is down 8% in 2026, the second-worst major market in Asia.