Cautiously Optimistic on Indian Stock markets - Global Recession looms but India blooms

Economic data indicates that India is still significantly better off as compared to the rest of the world, GDP growth is still expected around 7%, Inflation is under control at 6-7% and declining. But India cannot be decoupled from the rest of the world.  Brent oil around $88/bbl – Global slowdown will bring crude down in next 2 months  Sterling dropped 4.5% against the greenback in August and continued to slide  U.K. inflation hit 10.1% in July and the Bank of England has projected a peak of 13.3%  Inflation hits 9.1% in countries using euro currency, highest since its start in 1997. ECB is projecting an inflation of 8.1% this year & 5.5% in 2023.  Energy prices surged 38.3%, while food prices rose 10.6%. Gas price rises as Russia extends shutdown of Nord Stream1 pipeline  The Euro has fallen below 99 US cents, the lowest in two decades and the ECB has just taken a 75bps rate hike, unthinkable 6 months back. Energy crisis in Europe as Russia gas supply is restricted.  Dollar Index at 110 is a 2 decade high  A strong dollar, inflation, tight labour markets and supply chain issues have played havoc with the costs of technology firms in USA.  A recession looks imminent and the latest comments by Fed chief Jerome Powell at an annual meeting of central bankers in Jackson Hole, Wyoming – To bring inflation down to 2% at any cost by taking further rate hikes.  - burgeoning energy crisis and looming recession.  Slowdown fears negative for crude/silver  Focus on domestic stocks. India is significantly better off as inflation & interest rates are still in a comfort zone, but we cannot remain decoupled from the rest of the world. Subscribe:    / @sabya18   The Tortoise Blog: https://thetortoise.in/