New Delhi, April 23 -- The month of March turned out to be tough for the stock market investors as they were caught in a perfect storm of geopolitical concerns, crude oil shock and heavy foreign investor selloff. As the Nifty 50 witnessed its worst monthly fall in six years last month, several index stocks declined 15-20%.

However, even though the headwinds remain in place, the valuation reset has improved investor confidence. The Nifty has risen 8.23% on a month-to-date basis and remains on course to snap its four-month-long losing run.

Earlier this month, DSP Mutual Fund in its strategy report said that it is shifting from a conservative to a constructive view on the Indian stock market, as the correction has brought valuations closer...