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Stocks that were in focus included names like Mahindra Logistics, which fell 1.94%, NDTV, which declined 2.38%, and Vodafone Idea, whose shares declined 0.91% on Wednesday.

Honasa Consumer, the company behind personal care brand Mamaearth, is set to launch its initial public offering (IPO) on October 31. The IPO includes fresh shares worth Rs 365 crore and an offer for sale of about 4.12 crore shares. At the upper limit of the price band, the company aims to raise Rs 1,701 crore, valuing it at Rs 10,425 crore. Retail investors have been allocated 10% of the issue size, while qualified institutional buyers have been allocated 75%.

“If India were to double its market cap, I am sure we can find enough opportunities where we can go 3x to 5x in a five-year horizon. I think any kind of a crisis in global markets which leads to selling in India will be a great point of entry for Indian investors.”

Several large progressive-minded companies following good governance practices are also looking to send a message to investors about a transparent culture and mindset, experts said.

Brent crude futures dipped 3 cents to $90.10 a barrel at 0100 GMT, while U.S. West Texas Intermediate crude futures eased 3 cents at $85.36 a barrel.

The new fund offer for the same started on October 20 and will be open till November 3.

Does this mean India, with world-leading growth prospects by even the most conservative of assessments, is immune to the unrelenting northward march in global risk-free rates that are at their highest since the Global Financial Crisis? Well, not quite. Rather, a relatively circumspect pace of ascent for the US Dollar Index explains the soft landing in Indian equities thus far.