Mumbai, June 17 -- India is unlikely to replicate the broad-based equity outperformance witnessed during the 2002-11 weak dollar cycle, with future gains expected to be more selective and fundamentally driven, according to a report by Equirus Securities.

The brokerage said India enters the current phase of dollar weakness from a significantly stronger starting position, marked by higher valuations, elevated foreign ownership and stronger market performance over the past decade.

"India's opportunity is totally different from 2000s," the report said, noting that the country now carries overweight investor positioning and above-average valuations, unlike the early 2000s when it was relatively under-owned by global investors.

According to ...