Globally, Indian equities lagged their East Asian peers, with the South Korean and Taiwanese markets outperforming sharply, posting weekly gains of about 4% and 3%, respectively. The divergence was driven largely by valuation-led sector rotation and strong rallies in technology and semiconductor stocks in those markets, where India has limited representation, said Robin Arya, founder of GoalFi, a Securities and Exchange Board of India-registered corporate research analysis firm. Heavy foreign outflows and a weaker rupee have further capped India’s relative performance, pointing to tactical reallocation rather than a structural shift away from Indian equities, he said.