Investors are turning wary of crowded India trade after run-up

News Snapshot:

The stellar rally in Indian equities that’s made them an investor favorite has run into headwinds that go beyond elevated valuations. Earnings misses, the attractiveness of rival markets amid expectations of a dovish policy shift by the Federal Reserve and a nascent recovery in Chinese equities are casting doubts over India extending a rally that saw the nation’s main gauges posting a record eighth straight year of gains in 2023. Also Read | Whirlpool likely to sell 24% stake in its Indian unit via block deal Citigroup Inc. and Societe Generale SA have downgraded India, while foreigners have sold a...