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"This volatility was well expected due to higher inflation and the ongoing Russia -Ukraine war. We already cautioned our investors in our year-beginning note and suggested them to be in cash for some time. However, we are now suggesting our clients to deploy at least 60% of the money back to equity market."

“M&M’s overall capital allocations strategy over the last few years has improved leading to overall improvement in return ratios and we had the management meet recently where they reiterated the strong growth outlook for the overall automotive business, which will drive growth over the next few years. The IT segment is also doing very well.”

Ethereum, the second largest cryptocurrency, jumped 6.86 per cent to $1,160.32. Ethereum has advanced 6 per cent in the last seven trading sessions.

“Every year you will have different worries. It could be inflation, slow growth, any random war or trade war or any of such things. The key is to stick to your strategy because this strategy must be something which works across different risk parameters and risk will keep on emerging, the world has become too volatile.”

The Indian stock market’s value is already down nearly 20% from its January peak of about $3.7 trillion dollars. The unsupportive economic backdrop combined with an unprecedented exodus of foreign investors and earnings estimates that appear poised to tumble cloud the outlook for a rebound.

In the overseas market, gold prices were largely flat but on course for their second straight weekly decline, Reuters reported. Spot gold was last up 0.1 per cent to $1,824.72 per ounce, after hitting a one-week low of $1,820.99 earlier in the session. US gold futures fell 0.2 per cent to $1,825.90.

Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 2836.92 Crore) operating in Pharmaceuticals sector.

Among Sensex stocks, IndusInd Bank climbed 3.57 per cent to Rs 814.75. Hindustan Unilever advanced 2.7 per cent to Rs 2,313. This is even as Hindustan Unilever chairman Nitin Paranjpe said India is going through the most difficult economic situation and persistent inflationary pressures are beginning to weigh on demand.

“We do not have a lot of commodities but whatever we had, we trimmed a significant portion of their weights primarily on valuations because in cyclical upturns, their valuations have started trading at premium valuations compared to their historical bands. We have trimmed that and we are waiting patiently. ”

The stock quoted a 52-week high price of Rs 7462.95 and a 52-week low of Rs 3314.0.