Apart from the dollar’s strength and the “US exceptionalism" that has impacted all emerging market flows, the revival of positive sentiment around China’s technology sector (post Deep Seek and softening of Chinese governments’ stance towards the private sector) can impact India’s valuation premium over China and other emerging markets, said Rahul Singh, CIO-Equities, Tata Asset Management. “It is therefore even more important for the earnings growth recovery to kick-in in FY26," he added. He is of the opinion that earnings downgrades might continue at a moderate pace for a quarter or so before the stimulus in the Budget and monetary…