The correction could persist as the market is repricing earnings expectations rather than merely adjusting valuations, said Harshal Dasani, business head at INVasset PMS. “Elevated crude, pressure on the rupee and profitability concerns have weakened near-term sentiment. Domestic liquidity should cushion quality large-cap stocks, but a sustained recovery will require softer crude prices, stable global sentiment and better earnings visibility,” he added.
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