In this week’s BL Portfolio Podcast, Parvatha Vardhini C, Editor of bl.portfolio and Hari Vishwanath, Deputy Head of Portfolio, take a look at the significant market events of 2023 and share valuable insights for investors.
1. The Banking Crisis:
The podcast identifies the banking crisis as the most significant event of the year. The collapse of Silicon Valley Bank triggered a domino effect, threatening Credit Suisse. Hari Vishwanath emphasises the severity of the event and acknowledges the swift response of central banks, drawing parallels with the 2008 financial crisis.
2. AI Boom and Magnificent 7:
The discussion looks at the global impact of the AI boom, citing NVIDIA’s historic results that led to a near trillion-dollar rally. The emergence of the “Magnificent 7” in June 2023 reshaped investor sentiment, influencing both global and Indian markets. The discussion explores the potential implications for Indian IT stocks amid the AI wave.
3. Bond Market Volatility:
The return of bond vigilantes marked unprecedented volatility in the bond market. The podcast reflects on the unexpected twists in bond market dynamics and the interplay between hope and fundamentals.
4. Indian Markets and Bonds:
The conversation extends to the impact of global events on Indian markets. Despite challenges, Indian IT stocks showcased resilience. The opportunities in the Indian bond market are explored, with a nod to favorable conditions for investment and potential rate decreases in the upcoming year.
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