New Delhi, Dec. 3 -- As the rupee weakens towards Rs 90 per dollar, Uday Kotak, Founder & Director of Kotak Mahindra Bank has urged Indian businesses to break out of their comfort zone, warning that foreign investors appear to be calling the shots in current market dynamics.

Despite steady domestic buying, Kotak flagged that aggressive overseas selling has left the Nifty delivering zero dollar returns over the past year.

In a post on social media X, Kotak added, "Rs.@90. The proximate reason: foreign selling of Indian stocks both FPI & PE under FDI. Indian investors buying. Time will tell who is smarter. For now foreigners seem smarter. 1 year nifty $ return is 0. But this a long game. Time for Indian business to shake out of comfort zo...