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[hfe_template id='11223'] [ad_1] India’s stocks have powered ahead in recent months as surging earnings outweighed fears about lofty valuations. That dynamic is at risk with companies forecast to report slowing profit growth. Brokerages predict that companies in the benchmark NSE Nifty 50 Index will either report flat or low single digits profit gains for the quarter ended September. Earnings may expand at the slowest pace in more than four years, Jefferies Financial Group Inc.’s analysts forecast for their coverage universe excluding oil and gas. The benchmark gauge has dropped almost 3% in October, paring the year’s gains to over 15%. That’s fueling speculation it may have topped out in September following a stellar run, before an exodus of global funds toward China. The earnings slowdown is being driven by weakening consumer spending and increasing commodity prices. “There is a visible loss in macro momentum,” said Rajat Agarwal, an Asia equity strategist at Societe G...

[hfe_template id='11223'] [ad_1] Overseas funds are piling money into Indian stocks, marking a strong return to the $5 trillion market after election-related uncertainty earlier this year triggered a brief hiatus. At $8.5 billion, net foreign purchases this quarter are poised to be the highest since the middle of 2023, data compiled by Bloomberg show. With bets on policy continuity restored after Prime Minister Narendra Modi secured a third term in power and India’s weighting surpassing China’s in some global indexes, the outlook for flows looks promising, especially as the Federal Reserve has started cutting interest rates. The surge in inflows is also a sign of investors’ growing comfort with India’s equity valuation — which is expensive relative to emerging-market peers as well as its own history — as the nation’s benchmark NSE Nifty 50 Index heads for a ninth straight annual gain. “Despite higher valuations, Indian equities remain attractive relative to other markets...