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The global brokerage says it is cautious about the stock market despite the recent correction and believes that the index may hit bottom in the next 2-3 months.

“ A decade back, DPMS (Discretionary Portfolio Management) AUM in India was not even Rs 10,000 crore and today the same industry is managing the best part of Rs 3 lakh crore. If this number compounds 17-18% over the next decade or so, the industry will be worth around Rs 15 lakh crore, almost comparable to what the equity MFs manage today. .”

Dogecoin surged as much as 13 per cent to $0.06932 in the last 24 hours, thanks to another push on Twitter from the mercurial technocrat. Its arch-rival and next biggest meme coin Shiba Inu soared about 40 per cent to $0.000008637 in the same period

“Bulk of moves raising interest that has happened. One should not really panic into this kind of a macro feature. This is possibly closer to the late cycle of the macro developments and we would like to benefit from the volatility that markets are presenting by increasing our equity allocations.”

Analysts said a fall below 15,400 could trigger further weakness in the index while they see a decisive break above 15,700 a must for further upside.

The reasons for the stress which is mainly high oil prices (high inflation) and supply chain disruptions, have continued. Oil prices are high on account of the following reasons: Russia-Ukraine conflict and oil related sanctions on Russia now, Iran and Venezuela in the past, and reluctance of OPEC to increase production and curtailing an expansion of shale production in the US.

In an order passed in March, the capital markets regulator had slapped a fine of Rs 5 lakh on Future Enterprises for disclosure lapses in the case related to arbitration proceedings against Future Group by Amazon.com NV Investments Holdings LLC

“If there was a real crunch coming in the oil prices and it did start to surge a lot higher, we would start to see US production coming back on stream, certainly they are well below the record highs than we saw over the last couple of years.”

“On the consumer side, credit card spends have never been so good. The credit card spends continue though the revolving rates are very low right now and in the SME and the MSME side, there is enough demand to cater to the market. Large corporates are showing green shoots specifically in the cement and steel industries. The public capex cycle will lead to the private capex cycle,” says Sumant Kathpali

Even several crypto-related companies, directly or indirectly, have announced to reduce their headcount significantly, anticipating a dull and long crypto winter.​