Volatility deepens on Dalal Street; Srinivas Rao Ravuri advises selective approach

Indian stock markets saw further declines on Tuesday. Geopolitical tensions and weak earnings are impacting investor sentiment. A seasoned fund manager suggests this correction is more significant than recent ones. Valuations are considered comfortable but not compelling. Domestic-focused sectors like consumer discretionary, autos, and pharma are preferred. Defence stocks show potential but face valuation concerns.