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Vinod Nair, Head of Research, Geojit Investments Limited said, “A sharp rebound in crude prices shifted market attention back to inflation risks, tempering investor enthusiasm despite a supportive earnings backdrop. Concerns over the disruptions in the Strait of Hormuz and the U.S.-Iran negotiations kept sentiment guarded, particularly ahead of key inflation prints in India and the U.S. The resulting risk-off sentiment weighed on sectors most vulnerable to higher energy costs, while pharma and select IT names emerged as relative gainers. Nevertheless, robust foreign inflows and encouraging corporate earnings are limiting the downside risk.”