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So far in 2023, Indian equity indices Nifty and Sensex have declined 2% and 1.3%, respectively as FIIs have sold stocks worth over Rs 19,000 crore this year. Meanwhile, major global markets have risen up to 17% year-to-date.

Deepak Shenoy believes that larger cap companies in India will eventually recover as their core business is attractive and they have no debt and the ability to expand. However, in the short term, stocks will not do well. The new age companies face selling pressure from insiders and venture capitalists, and the charisma of a leader can affect motivation and the stock price.

"Data on US inflation and GDP expected this week will have an impact on global markets and on India, too. Results of US tech majors have been good. If the US disinflation trend indicates a steady decline, that can be positive trigger for equity markets globally," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

Experts recommend investing in infrastructure stocks like L&T, RVNL, and IRCON for a long-term basis, due to the increasing number of government contracts flowing their way. ABB also predicts a 46% YoY increase in Indian order flows. However, experts urge investors to be cautious of the high volatility of these stocks, with a possible downside of 25-30%. While

JPMorgan has maintained an overweight rating on Bajaj Auto with a target price of Rs 5,150. Similarly, Motilal Oswal has maintained a buy rating on Apollo Hospitals with a target price of Rs 5,580, while Kotak Institutional Equities has an add rating on Nestle India and HDFC AMC with target prices of Rs 22,250 and Rs 1,860, respectively. The brokerage firms have based their ratings on the March quarter results of the companies, with JPMorgan citing EV volume momentum as a re-rating trigger for Bajaj Auto.

Promoters held 25.51 per cent stake in the company as of 31-Mar-2023, while FIIs owned 49.78 per cent, DIIs 11.74 per cent.

The Indian rupee opened weak against the US dollar, declining by 6 paise to trade at 82.01 in early trade as a result of foreign fund outflows amidst a negative trend in domestic equities. CR Forex Advisors MD, Amit Pabari, stated that global uncertainties has led to the currency being squeezed within the 81.80-82.20 range, with a push to 82.20 necessary to reach 82.50-82.80 levels. The broader NSE Nifty slipped 50.30 points to 17,718.95 points and the BSE Sensex traded 157.29 points lower at 59,973.42 points.

The Nifty Auto index was trading 0.48 per cent up at 12966.05.

​In all of those areas, there are new emerging risks. Natural hazards, climate change, cyber risk, new technologies that are emerging, new business models that are emerging in terms of using some of those technologies to manufacture, so all of these things are changing and the role for insurance will always be there to cover these risks.

The stock traded at a P/E multiple of -26.47, while the price-to-book value ratio stood at -12.94.