I think there are a few layers here. First of all, the Fed is clearly behind the curve. And their credibility has been damaged by what has happened with inflation and the monetary policy response over the last few months.
Nifty Pharma, 4 others hit 52-week high since Iran war while Nifty fell 7%. Will the form continue?
Despite a challenging market backdrop fueled by geopolitical tensions and foreign fund outflows, five Indian sectors—Pharma, Energy, Defence, Capital Markets, and Metals—are showing remarkable strength.