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In focus with Tushar Pradhan - Oct 2022

Equity markets are likely to remain volatile in near term
21 October 2022
    Local Market Commentary
    Download the full reportPDF, 795.01KB

    Summary

    • September was a weak month both in India and globally albeit India’s outperformance continued
    • Rising interest rates in US and looming recession fears contributed to the weak sentiments
    • All the major equity indices globally continued with the declining trend during the month with MSCI World index down 9.5%
    • Globally, policy actions by central banks to tame inflation has weighed on equity asset class as they adversely impact both drivers of the equity performance viz valuations (given rising interest rates) and earnings growth (slowing demand & inflation)
    • Moderation in global commodity prices from peak and stalemate in geopolitical situation has given some respite.
    • Domestically, India seems to be more stable. Domestic demand so far has seen recovery to/higher than pre-covid levels.

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