“Naveen Kulkarni believes the recent market sell-off, triggered by the STT hike, is largely sentiment-driven and temporary, not reflecting a shift in underlying fundamentals. He asserts that the intrinsic value of equities remains intact, supported by the Budget's focus on growth, increased capital expenditure, and manageable fiscal numbers, which will support markets in the medium to long term. He expects the market to stabilize soon, noting it was oversold.”