0316 GMT - India's recent equity-market correction reflects deeper concerns over long-term growth rather than just geopolitical and oil-price pressures, Nomura analysts Saion Mukherjee and Akshay Rajgarhia say in a note. Sectors impacted in the August-September sell-off were IT services, non-banking financial companies and staples despite solid 1QFY27 earnings. Nomura says geopolitical realignment, technological disruption and policy risk are weighing on growth expectations, against a still-strong AI investment cycle. The bank advises investors to stay selective and valuation-conscious.