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Patwardhan underscored that market valuations are reasonable, but there are pockets of overvaluation in select segments that could be vulnerable to changes in sentiment. Mid and small caps are outperforming large caps due to increased domestic flows and their underperformance in the previous phase.

Plus, why Lululemon and cash are still kings

A relatively firmer macro-economic position coupled with inflow of foreign and domestic funds is keeping the optimism high among Indian stock market participants.

The ringgit is likely to stay at the current level against the US dollar, at 4.66 to 4.68, as monetary policy action will continue to take centre stage with a US Federal Reserve (Fed) meeting this week.

The Federal Reserve expressed concerns that this robust economic activity could lead to continued inflationary pressures, potentially necessitating further tightening. Moreover, the extension of the OPEC+ output cut led to a rise in oil prices, contributing to inflationary risks

Indian stock market valuations are currently higher than usual, indicating a potential correction. Short-term investors should lower expectations, while long-term investors should stick with regular investments, said Ajay Tyagi of UTI AMC.

India Business News: Asian Development Bank president Masatsugu Asakawa is in India to attend the G20 Summit.

Traders says they are watching for any intervention by the Reserve Bank of India as the domestic currency hovers near its record low

The dollar stayed strong on positive US economic data, increasing the likelihood of more interest rate hikes

Indian rupee on September 5 opened marginally lower against US dollar tracking losses in its Asian peers.