There is a possibility of another 8-10 percent correction in the domestic stock market from the current level, Dheeraj Agarwal, co-head institutional equity in the Ampbit Capital, told CNBC-TV18 in an interview. The domestic benchmark index has fallen by more than 8 percent of their highest record hit in October 2021 which was driven by fears of an increase in aggressive interest rates in the US, soaring global crude prices, high inflation, and geopolitical tensions in Eastern Europe.
“For me, this (market decline is 8-10 percent) is not a big disaster but, given the current market conditions, it will be considered a meaningful correction,” Agarwal said. He, however, ignored worries that the market participated was in sales to increase cash to subscribe to the public edition of the Indian life insurance company next month.
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