Hi Suhas, I just tested with JAWS 2023 and had the same experience.
This is not my usual experience with Storyline bullet lists, they will read correctly (as per HTML).
Can you confirm that you are using the bullet format tool in Storyline to format the text?
Try removing the animation and test again, see if you get a different results.
Also, just and FYI if building a module for accessibility, ensure that you use headings as defined by Styles, otherwise headings you have defined such as "Introduction" are not identified as headings and are just read as a paragraph.
I've put together a basic test. See what results you get from JAWS2021 on this link: https://articulateusercontent.com/review/items/mc2vvcIqkAzZ_r1N/story.html
TIP: Use the "h" key when JAWS is active to jump to the first heading on the slide (one of the reasons using Heading is really important, is they provide shortcuts for assistive technology users).
Here's my experience using JAWS2023: https://360.articulate.com/review/content/4c668684-c7e6-410b-a689-3550c6e408e2/review