Indian equities have slumped as the ongoing war in Iran drives energy prices sharply higher. Billionaire investor Raamdeo Agrawal, Chairman and Co‑Founder of Motilal Oswal Financial Services, examines where value is emerging. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, ...

Government and Economic Outlook - The upcoming Union Budget is unlikely to deliver major reform-oriented surprises and is expected to maintain the status quo due to limited scope for sweeping changes [1] - The government must urgently address heavy foreign portfolio investor (FPI) outflows to mitigate risks to financial stability [2][3] - Concerns among foreign investors have intensified following recent tax-related developments, particularly the Flipkart judgment, which has led to uncertainty regarding past transactions [6][7] Precious Metals and Cryptocurrencies - The recent rally in gold and silver prices is deemed unsustainable, with expectations of further price corrections in the near term [8][9] - The correction in precious metals and cryptocurrencies is viewed as a healthy development, indicating a return to market sanity [10] Indian Equities and Market Sentiment - Despite near-term pressures, the long-term outlook for Indian equities remains constructive, supported by healthy economic indicators and corporate earnings [11] - Concerns exist regarding the depreciation of the rupee, rising bond yields, and tightening liquidity conditions, which could pose challenges for the economy [12] Investment Opportunities - Attractive valuations in the midcap space and select sectors, such as construction, defense, and consumption, present potential investment opportunities [13] - Market psychology often creates the best buying opportunities, as drastic sell-offs can lead to undervalued stocks [14] - Selective buying has begun in the market, with interest in larger companies and smaller private banks benefiting from an improving rate environment [15][16]