Stock Market, March 12 -- The Indian IPO market, which outperformed the secondary market in recent years, has been struggling to maintain the same momentum this year as investor sentiment weakens toward risky assets amid mounting concerns that Donald Trump's trade policies could drag down the global economy.

A majority of the companies that raised funds so far this year have seen lukewarm demand for their issues. Data shows that retail investors, whose portion usually sees strong demand for SME issues, received significantly lower subscriptions compared to previous months, reflecting cautious sentiment amid market volatility.

The prolonged sell-off in the domestic market is making investors jittery, as the correction is wiping out billi...