15-year setback on cards? Nifty heading for worst annual performance since 2011
A monetary policy development with market-wide reach.
· ET Stocks, Economic Times Markets
As 2023 unfolds, the Nifty index appears headed for its most disappointing year in a decade and a half. Key contributors to this downturn include high valuations and a flight of foreign investors. The IT sector continues to struggle amid geopolitical conflicts that have exacerbated oil prices and inflation fears.
The analysis
Rate decisions ripple straight into banks, NBFCs and every rate-sensitive sector — from real estate to autos.
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Market context
- This is a market-wide development — its reach goes beyond any single stock.
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