Despite Volatility, Indian Markets Stay on Course

After experiencing a remarkable upward trajectory in the equity market over the past four and a half months, most of us are undoubtedly celebrating the substantial surge in our portfolio values. This resurgence follows a challenging period of 18 months starting from October 2021, marked by significant drawdown. However, recent developments have introduced a new dynamic to the scene. A notable shock came in the form of inflation figures for July, which surpassed the Reserve Bank of India’s comfort level. The inflation rate surged to a 15-month high of 7.44 per cent in July, compared to 4.87 per cent in the previous month. Encouragingly, core inflation exhibited a month-on-month decline.