Indian equities are set to wrap up the year with their biggest underperformance versus their Asian peers in nearly three decades, pressured by a weak rupee and foreign outflows. A rebound in the nation’s shares that started in September has faded as global fund managers cut exposure to the country. Foreign funds pulled out $1.7 billion in December, taking annual outflows to a record$17.9 billion. The selling was compounded by a slide in the rupee that has eroded returns for overseas investors.The lack of ...