For some time now we have spoken of the need to keep an eye on the currency markets. While there is a clear indication of a slowdown, what is hitting the equity markets more is events in the currency markets. As the rupee weakens, it is driving some of the hot money out of the Indian markets. The sudden increase in oil prices is another headache. Old timers would have seen all this before. But for those who entered the market after 2021, it is probably their first experience of a major correction. Just remember: Corrections are part of every market and will keep recurring. If they are sparked by global events, they may be short time-wise, but strong in terms of magnitude. But if they are caused by domestic economic reasons, they may last longer and also cause greater price damage. So, while being bullish, being selective is even more important in these times.
Even in a volatile market, these large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 36%
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