Outperformance of ‘cyclical, capital-intensive and value’ stocks likely in CY23 along with US Fed’s pivot and ‘end of big tech sell-off ’
Domestic investors betting on gold (+14%), USD (+11%), real estate (5%-6%), Indian stocks NSE500 (+3.5%) and bonds (2%) earned positive returns in CY22 while those betting on US big tech / IT / digital assets, EM and DM stocks had negative returns.