Manish Sonthalia, a representative from Emkay Investment Managers, highlights the challenges faced by Indian markets due to geopolitical tensions and global inflationary pressures. He notes that the ongoing conflict is affecting oil prices, liquefied natural gas (LNG), and supply chains, leading to an inflation shock that will impact India significantly. Sonthalia predicts that recovery from these economic conditions could take until FY28. For investors, he emphasizes the importance of selective buying, particularly for domestic investors who may find valuations nearing COVID-era levels attractive. He recommends focusing on sectors that demonstrate resilience, such as commodities, defence, renewables, and healthcare. While private banks are seen as solid long-term investments, public sector banks are currently offering favorable valuations. Sonthalia encourages investors to adopt a disciplined approach, picking and choosing stocks carefully in this turbulent market environment.