The Indian equity market has recently shown signs of stabilizing, as both the Sensex and Nifty indices have risen for four consecutive days after a significant correction from their September peaks.

However, despite this rebound, there are concerns about the Indian economy's slowdown and its potential impact on the equity market.

Pankaj Murarka, the founder of Renaissance Investment Manager, points out that initial projections for corporate earnings growth this year were around 14 percent, but they have since been revised down to approximately 7 percent.

As a result, he suggests that the market may remain in a consolidation phase for an extended period as it adjusts to these economic realities.