“Indian equity benchmarks ended marginally lower as investors exercised caution amid subdued Q1 earnings announcements, particularly in the technology and banking sectors. Market participants remained sidelined due to elevated valuations of large-cap stocks and FII outflows owing to the uncertainty regarding US-India trade deal; however, any positive developments could amplify market sentiment. Despite the muted trend, strong domestic liquidity and selective buying in realty and consumption theme stocks helped to limit the downside, keeping the broader market in a range-bound phase. The domestic macro fundamentals, like GDP growth and the stable inflationary trend, remain supportive in the medium to long-term.”
