A crystal-ball gaze into second half of calendar 2023's fortunes

HEARD ON THE STREET: Persist, pivot or pause? All eyes on Fed and central banks as brokerages turn market psychics

Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189.

As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.

Back home, the progress of the monsoon, its impact on inflation, state elections, and corporate results are