Possible steep hike in oil & gas prices could lead to further rise in inflation, which, in turn, could push up bond yields, and hence, slowdown in banking credit growth.
We need to learn from China and ban short-selling. This would reduce the speculative hammering of the stocks and thereby help in stabilising the markets.
What would worry the market or bring in long bearish phase is any possible instability at the Centre in terms of any National Party being forced to depend on too many political parties