New Delhi, Oct. 7 -- India's IPO market remains the only "bullish corner" amid a sustained decline in the broader market, said Zerodha CEO Nithin Kamath.

In a post on X, Kamath said the broader market has been steadily declining even though headline numbers may not fully reflect the extent of the weakness.

"The only bullish corner of the market right now is IPOs," he said.

Comparing the performance of the broader market with the ongoing activity in initial public offerings (IPOs), the Zerodha co-founder said market conditions currently feel bearish despite what the numbers may indicate.

"The broader market has been steadily falling. The numbers may not fully show it, but it certainly feels like a bear market."

IPOs, however, have con...