Even as the domestic headline equity index Nifty50 is 16 per cent off the record high, Zerodha and True Beacon co-founder Nikhil Kamath says that India remains one of the most expensive stock markets in the world.​

Silver prices also declined by Rs 621 to Rs 59,077 per kg from Rs 59,698 per kg in the previous trade. "Spot gold prices for 24-carat gold in Delhi fell by Rs 70 reflecting overnight fall in COMEX gold prices," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities.

“I do not know how things will evolve, the world is simply too uncertain and too volatile for me to predict how long this will last but at this moment, all of us are dealing with levels of inflation which very few of us have seen before and that is the reality and it is true in India and it is true across the world.”

The Indian market has seen these headwinds resonating across asset classes, which is reflected in the bear flattening on the Gsec curve, weakening of the currency, and continued drag on the equity market.There are discerning trends visible from how Indian markets have responded.​

The 30-share pack Sensex rose over 450 points (nearly 0.9 per cent) to close at 52,727.98. Its broader peer, Nifty50, closed 0.92 per cent higher at 15,699.25. Both the indices posted weekly gains of 2.7 per cent, logging their best week in over a month.

The Nifty Auto index closed 1.97 per cent up at 11583.25.

According to the analysts who attended the event, the new age company intends to give priority to driving growth in the Beauty and Personal Care (BPC) segment and developing the Fashion & Superstore verticals. Initiatives such as Nykaa Man have taken a back seat, analysts added.

The FTSE 100 was set to end the week largely flat, while the mid-cap index was on pace for a weekly loss of 1%. Data showed British retail sales volumes slid by 0.5% in May, showing that consumers cut back on shopping in the face of fast-rising inflation last month, and an increase in sales in April was revised down sharply.

Stock markets globally have been whipsawed in recent sessions as investors debate whether equity valuations have hit a bottom in the wake of a sharp selloff induced by fears of an economic slowdown.

Describing Delhivery as a scaled, sound and strong company, it said factors that could trigger an potential upside in the stock are continued market share gains in the express parcel business as well as better-than-expected performance in the PTL business.