Domestic market continued on its sharp sell-off mode as the ripple effects of hawkish RBI policy weighed on rate-sensitive sectors, effectively resetting near-term valuation multiples. This headwind was further amplified by persistent FII outflows, harder bond yields, and a depreciating rupee. Looking ahead, analysts say the market focus shifts to the Q2 earnings season, where management commentary on demand sustainability and input cost absorption will provide critical near-term direction.
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