Why did foreign investors pull out ₹26,533 cr from Indian markets in Nov?

Foreign investors pulled out ₹26,533 crore from Indian equity market this month so far due to increased allocations to China, muted earnings and elevated valuation of domestic stocks, Morningstar's Himanshu Srivastava said. Geojit's VK Vijayakumar flagged concerns about FY25 earnings, saying, while the 'Sell India, Buy China' trade is over, 'Trump trade' also appears to be on its last leg.