Indian equities
Cheap versus its own history (P/E 20.7) and the war/FPI-exit drag is easing as oil falls and the rupee recovers, but a negative earnings-yield-vs-bond gap and a thin foreign bid cap upside; record domestic flows are the floor.
Point-in-time: grades are reviewed each cycle; every change publishes as a dated action. Snapshot 3 July 2026.
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