Indian markets have underperformed sharply, but is it really because stocks are expensive? In this video, a market expert breaks down why the recent sell-off has more to do with foreign investor behaviour and global events than valuations. Despite strong reforms, rate cuts and GST changes, India saw heavy FII selling triggered by two India-specific shocks — the India-Pakistan conflict and the global tariff war. Interestingly, while foreign investors sold old-economy stocks like banks, IT and con