West Asia Tensions and FPI Selling Weigh on Indian Equity Market Sentiment
The Indian equity market is likely to open on a cautious note amid fresh escalation of tension in West Asia, with massive selling by foreign portfolio investors (FPIs) and the weakening of the rupee continuing to hurt market sentiment. Valuations offer support despite near-term risks, with the Nifty trading at a 12-month forward P/E of 18.6x, below its long-term average (LPA) of 21x.