Devang Mehta, Deputy MD & CIO-Equity NDPMS at Spark Private Wealth Management, says elevated crude prices and a weak currency remain key market headwinds, though much of the risk is already priced in after sharp March corrections of 12–20%. He expects the near-term earnings impact to be limited to 1–2 quarters if the crisis eases soon. Despite volatility, India’s macro base—low inflation, manageable deficit, and strong forex reserves—offers stability, while financialisation remains a long-term growth driver.
