FPI shorts near records as Street awaits Trump

The 100 executive orders that Trump plans to sign on his first day in office is a new source of worry for markets

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improving, is subdued," said Nilesh Shah, managing director of Kotak Mahindra AMC. Shah explained that FPIs have used India as a "revolving door" since 2021, buying at times and selling at others, and are currently underweight India on a valuation basis.

Indeed, India, which had overtaken Taiwan to the second spot by weighting on the MSCI Emerging Markets Index (EM) early last year, slipped below the tiny island nation after the recent market correction. As of December-end, India's weighting on the index, used by global money managers to allocate funds to EMs, stood at 19.43%, behind Taiwan (19.72%) and China (27.79%).