After a year of outperformance, Indian equity markets to see turbulence

From all-time highs to heightened volatility, The second of the yearender series assesses the market's trajectory

The highlight of 2022 for Indian equity markets was its resilience and its better performance vis-à-vis its global peers. The road ahead, however, is likely to be bumpy, at least during the first half of 2023. A combination of stretched valuations, global headwinds, and peaking is likely to take some sheen off Indian equities.

Worries about major central banks, including the Federal Reserve, extending their aggressive monetary policy and the resurgence of Covid fears amid rising cases in China have made the Indian equity benchmarks give up some of their gains. From the all-time highs they saw in December, the