New Delhi, June 3 -- The Indian stock market has been trading in a consolidation range for the past few weeks, and this range-bound movement is expected to persist in the coming months.

According to domestic brokerage firm Kotak Institutional Equities, rich valuations, ongoing weakness in domestic consumption and investment demand, along with global geopolitical and macroeconomic uncertainties, may keep the Indian stock market range-bound over the next few months.

The brokerage notes that expensive valuations across sectors and stocks, domestic growth headwinds across consumption, investment, and outsourcing sectors, and global growth and inflation challenges are likely to act as headwinds for the Indian stock market.

Kotak finds that ...