After nearly two heady years of relentless uptick, the stock market experienced the jitters in 2022. Globally, inflation ballooned to unprecedented levels after years of loose monetary conditions. The flaring up of the Russia-Ukraine conflict only added fuel to the fire. Global markets that had previously binged on abundant liquidity and low interest rates were jolted out of their trance as global central banks tamed the blaze with aggressive rate hikes. Amid this upheaval, the domestic market remained on tenterhooks, albeit exhibiting relative strength. Underlying preferences rapidly shifted away from the traditional growth stocks towards the much-ignored segment of value stocks. Sector rotation also played out faster than usual.
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