S a result of geopolitical tensions, scheduled general elections in India during the mid-year and in the USA towards the end of the year as well as valuations that had sky-rocketed, volatility during 2024 was anticipated by many of us.
What was not anticipated though was a fresh indictment with legal implications on the Adani group by the US SEC. The Foreign Institutional Investors (FIIs) who were already nervous about the rich valuations of Indian stocks and had already commenced profit-booking, then started selling even more aggressively leading to a 10% correction in the key indices.
The silver lining here was that an overheated market let off steam and there were value picks available for the taking among the lot of shares whose prices got hammered down during the selling spree.
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