Going forward, in the near-term, while market would take cues from the on-going corporate earnings season and the outcome of the Karnataka state election, some amount of consolidation cannot be ruled out considering that the Indian stockmarket has gained for 5 consecutive weeks. Moreover, rising oil prices and weak rupee have raised fears of inflation and could make the FIIs think twice before investing huge sums in the market in the immediate term. Nonetheless, we remain constructive on the Indian market over the medium-to-long-term, and any corrections owing to domestic and/or global factors should be used to increase exposure to quality Indian equity.