The Indian stock market began the new financial year 2026-2027 (FY27) on a strong footing, with the Nifty 50 surging more than 7% in April so far. However, despite the positive momentum following a tumultuous FY26, market volatility remains elevated amid persistent uncertainty surrounding the US-Iran ceasefire, casting a shadow over the global financial markets.Since the onset of the US-Iran conflict, frontline indices have corrected by more than 10%, making valuations relatively attractive. The Nifty 50 is currently trading at approximately 18x earnings, reflecting a 14% discount to its long-period average (LPA) of 20.9x.Additionally, India’s valuation premium over other emerging…