New Delhi, Sept. 25 -- Equity benchmark Nifty is down more than 11% year-to-date, largely due to concerns over elevated crude oil prices on India's growth-inflation dynamics. Oil prices have been up for most of the year due to the US-Iran conflict, raising the risk of an inflation flare-up and aggressive monetary tightening by global central banks.

The US Federal Reserve increased rates by 25 basis points in its September policy meeting, and markets expect at least one more hike this year as the West Asian conflict remains unresolved.

Anticipation of further rate hikes and growing concerns over a deteriorating macroeconomic outlook have led US bond yields to surge, putting pressure on equities.

Experts expect the domestic market to rem...