Prateek Agarwal of MOAMC anticipates a selective revival in Indian equities in 2026, driven by improving earnings, more comfortable valuations, and potential foreign investor returns. He noted that Indian markets underperformed global peers in 2025 due to significant foreign portfolio investor (FPI) selling, despite domestic reforms. Agarwal believes a stable rupee and lower global bond yields could attract capital back, with strong corporate results and renewed foreign inflows crucial for broader market participation.