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The Indian equity market has been weak since it touched an all-time high in October last year.
The market since has been making low highs and lower lows, indicating lack of conviction among investors. The benchmark S&P BSE Sensex is down 6.3 per cent, from its all-time high in October last year, but many stocks are down 30-40 per cent during this period on growth concerns.
Most brokerages, however, remain optimistic and expect another year of double-digit returns from the broader market. The Sensex was up 18 per cent in 2021-22 (FY22) — its second consecutive year of double-digit returns.
