Market expert Rajeev Agrawal from DoorDarshi India Fund highlights how artificial intelligence continues to dominate global equity trends, particularly benefiting semiconductor-heavy economies. According to ET Now, markets such as Korea, driven by players like Samsung and SK Hynix, continue to outperform meaningfully due to their direct exposure to memory chips and AI infrastructure demand. However, India has not participated in this wave in a meaningful way, largely because it lacks a strong presence in the semiconductor ecosystem, contributing to its relative underperformance in global capital flows.
Agrawal addressed concerns around elevated crude oil prices above $100 per barrel and ongoing geopolitical tensions in West Asia, particularly around the Strait of Hormuz. As reported by ET Now, while crude has remained elevated, he suggested that the situation may gradually move toward de-escalation over the coming weeks, with global oil dynamics constrained by limited strategic reserves. He highlighted recent restrained responses between major geopolitical actors and pointed to the role of major global stakeholders, including China's energy dependence and diplomatic leverage, as factors that could contribute to easing tensions over time.
According to ET Now, global indices, particularly in the US, are already reflecting expectations that geopolitical disruptions will not persist indefinitely. US equities, including the Nasdaq and S&P 500, have posted mid-to-high single-digit gains, while Indian equities have lagged, especially when measured in dollar terms. Agrawal noted that higher oil prices have not yet fully filtered into corporate earnings in India, suggesting a lagged impact on profitability, though he expects the country to sustain growth of over 6% in FY27.
From an investment standpoint, Agrawal highlighted a clear shift toward domestic-oriented opportunities within India, as reported by ET Now. He said that recent market corrections, particularly around March, have allowed investors to accumulate quality businesses at more attractive valuations. His focus has been on sectors tied to domestic growth rather than export-driven themes, with renewable energy, especially solar and wind, remaining a key area of interest due to India's push for energy independence. Financials and capital markets have also been important allocation areas, while selective opportunities in less crowded segments such as cash management are being evaluated.
According to ET Now, the broader market picture reflects a clear divergence in global equity leadership, with AI-linked economies continuing to dominate and geopolitical factors adding volatility to energy markets. Agrawal's strategy reflects a preference for domestic consumption-driven businesses, which he believes are better positioned to deliver consistent performance in the current environment. He emphasized that India's underperformance appears more cyclical and sectoral rather than structural, with earnings and flows likely to improve as global conditions stabilize over time.
