Bear Charge

Has the bear tightened its grip on the market or is it just a correction in the bull market? That’s the question everyone’s asking on the street. The global markets have been on a roller coaster ride since the beginning of the year, largely due to the geopolitical tension between Russia and Ukraine. Macroeconomic changes due to higher inflation worldwide caused by oil and commodities prices added fuel to the fire. In addition to that, the interest rate hike announcement by the US Federal Reserve gave ample reason to foreign portfolio investors (FPIs) to flee from emerging markets. Since the beginning of the year, FPIs have pulled out Rs 1.58 lakh crore from the Indian markets across equity, debt and hybrid assets. With the global markets hitting new lows, emerging markets like India have also been facing headwinds. The broadly tracked indices, the BSE Sensex and Nifty, are...