Despite geopolitical tensions, global equity markets, including India’s Nifty, have shown resilience. While domestic investor participation provides support, a significant breakout requires stronger earnings growth, currently facing tepid levels. India’s robust macros and potential trade deal outcomes could drive future earnings recovery, particularly in the banking sector, though elevated valuations suggest patience is warranted.
US consumer sentiment near record low ahead of midterm elections
In October, consumer sentiment in the U.S. plummeted to a concerning 48.0, driven by rising prices and economic worries amid the ongoing Middle East conflict.