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There was not much of a movement in India's broader equity market in the first half of the 2022-23 financial year (HIFY23). The benchmark BSE Sensex was down 1.9 per cent during the April-September period while NSE Nifty50 was down 2.1 per cent in the last six months. In contrast, the period saw a big upheaval in the global financial markets due to the economic disruption caused by the Russia-Ukraine war and record high inflation in the advanced economies.
The United States benchmark index — Dow Jones Industrial Average that has 30 stocks — was down 15.7 per cent during the period. The Dow closed at 29,228 on Thursday, erasing all its gains in the post-pandemic period. The broader and tech
