Geopolitical tensions, excess volatility, and tightening liquidity marred financial markets in the first half of the fiscal year 2022-23 (FY23).
The equity segment showed declines across the board. Indices tracking global, emerging markets, and Indian equities, all ended lower at the end of the period than they were at the beginning. India has been relatively resilient with only a single-digit decline. Global and emerging market indices have lost a fifth of their value (chart 1).
Those who sought safety in gold would have seen a double-digit decline in the value of their investments. It has finished lower at the end