{"id":20685,"date":"2023-01-17T10:57:10","date_gmt":"2023-01-17T05:27:10","guid":{"rendered":"https:\/\/kuvera.in\/blog\/?p=20685"},"modified":"2023-01-17T13:39:02","modified_gmt":"2023-01-17T08:09:02","slug":"tata-mutual-fund-equity-outlook-2023-summary","status":"publish","type":"post","link":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/","title":{"rendered":"Outlook for global &#038; Indian markets and economy | TATA Mutual Fund"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69e73c82429f4\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69e73c82429f4\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_Global_Economy\" title=\"Outlook \/ Global Economy\">Outlook \/ Global Economy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_India_Corporate_Earnings\" title=\"Outlook \/ India Corporate Earnings\">Outlook \/ India Corporate Earnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_India_Corporate_Earnings-2\" title=\"Outlook \/ India Corporate Earnings\">Outlook \/ India Corporate Earnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_India_Drivers\" title=\"Outlook \/ India Drivers\">Outlook \/ India Drivers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Tata_Mutual_Funds_Portfolio_Strategy\" title=\"Tata Mutual Fund\u2019s Portfolio Strategy\">Tata Mutual Fund\u2019s Portfolio Strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Portfolio_Strategy_GARP\" title=\"Portfolio Strategy \/ GARP\">Portfolio Strategy \/ GARP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_Industrial_Capital_goods\" title=\"Outlook: Industrial \/ Capital goods\">Outlook: Industrial \/ Capital goods<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_Financials\" title=\"Outlook: Financials\">Outlook: Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Outlook_IT\" title=\"Outlook: IT\">Outlook: IT<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Global_Markets_Performance\" title=\"Global Markets Performance\">Global Markets Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#India_Markets_Performance_2022\" title=\"India Markets Performance 2022\">India Markets Performance 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Sectoral_Performance\" title=\"Sectoral Performance\">Sectoral Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Sectoral_Performance-2\" title=\"Sectoral Performance\">Sectoral Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Market_Cap_Performance\" title=\"Market Cap Performance\">Market Cap Performance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Equity_Flows_-_FIIs_DIIs\" title=\"Equity Flows \u2013 FIIs &amp; DIIs\">Equity Flows \u2013 FIIs &amp; DIIs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macro_GDP\" title=\"Macro \/ GDP\">Macro \/ GDP<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macro_Inflation\" title=\"Macro \/ Inflation\">Macro \/ Inflation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macro_Currency\" title=\"Macro \/ Currency\">Macro \/ Currency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macros_FOREX_Reserves\" title=\"Macros \/ FOREX Reserves\">Macros \/ FOREX Reserves<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macro_Crude_Oil\" title=\"Macro \/ Crude Oil\">Macro \/ Crude Oil<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macro_Interest_Rates\" title=\"Macro \/ Interest Rates\">Macro \/ Interest Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Macro_Trade_Surplus_-_Deficit\" title=\"Macro \/ Trade Surplus &#8211; Deficit\">Macro \/ Trade Surplus &#8211; Deficit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Valuations_Nifty50\" title=\"Valuations: Nifty50\">Valuations: Nifty50<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Valuations_India_vs_Emerging_Markets\" title=\"Valuations: India vs Emerging Markets\">Valuations: India vs Emerging Markets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#Valuations_Mid_Cap\" title=\"Valuations: Mid Cap\">Valuations: Mid Cap<\/a><\/li><\/ul><\/nav><\/div>\n<p>In this blog, we are going to discuss all the key highlights of <a href=\"https:\/\/kuvera.in\/amc\/tata\">Tata Mutual Fund&#8217;s<\/a> Equity Outlook 2023 report. We are going to understand all the important financial events that shaped 2022 and how the economy and markets are going to perform as per the report.<\/p>\n<p>&nbsp;<\/p>\n<p>If you don&#8217;t want to read the entire report, take a quick glance below to know all you the vital details from the report.<\/p>\n<p>&nbsp;<\/p>\n<p>Keep an eye on this space for our upcoming series on <strong>#2023<\/strong> Outlook for global and Indian markets and economy by India\u2019s leading AMCs. Let&#8217;s start.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_Global_Economy\"><\/span>Outlook \/ Global Economy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Inflation remains a challenge to global economy<\/p>\n<p>?Monetary Policy direction clear:<\/p>\n<ul>\n<li>Bring down inflation<\/li>\n<li>Avoid a wage-price spiral<\/li>\n<li>Prevent hardening of inflation expectations<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_India_Corporate_Earnings\"><\/span>Outlook \/ India Corporate Earnings<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Reduced earnings downgrade risk, potential of slight upgrades too.<\/p>\n<p>?Banks &amp; Capital goods lead positive earning upgrade cycle.<\/p>\n<p>?Urban consumption has beyond \u201crevenge buying\u201d.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_India_Corporate_Earnings-2\"><\/span>Outlook \/ India Corporate Earnings<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Lower input costs \/ easing wage pressures could support sectors like IT, FMCG, etc.<\/p>\n<p>?Biggest risk: Global commodities &amp; Crude price rise could lead to reduction in India\u2019s valuation premium.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_India_Drivers\"><\/span>Outlook \/ India Drivers<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Earnings in India could be driven by ?<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQFCx-wML9AkXw\/article-inline_image-shrink_1500_2232\/0\/1673519512067?e=1678924800&amp;v=beta&amp;t=y68NnqpPeZNx44GNuGza1MNzVzmE0wWcqPkQx-xOUWs\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Tata_Mutual_Funds_Portfolio_Strategy\"><\/span><a target=\"_blank\" rel=\"nofollow noopener\">Tata Mutual Fund<\/a>\u2019s Portfolio Strategy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Balanced Portfolio Strategy to capture the economic cycle<\/p>\n<p>?Increase exposure in Mid &amp; Small Caps Capitalise on broad-based economic recovery<\/p>\n<p>?Actively seeking GARP opportunities on bottom up basis; crucial in rising rates regime<\/p>\n<p>&nbsp;<\/p>\n<h3><a href=\"https:\/\/kuvera.in\/fixed-deposit\/all\"><img loading=\"lazy\" class=\"wp-image-18627 size-large aligncenter\" src=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/FD-Updated-banner-01-1024x427.jpg\" alt=\"fixed-deposit-interest-rates\" width=\"640\" height=\"267\" srcset=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/FD-Updated-banner-01-1024x427.jpg 1024w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/FD-Updated-banner-01-300x125.jpg 300w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/FD-Updated-banner-01-768x320.jpg 768w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/FD-Updated-banner-01-150x63.jpg 150w, https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/11\/FD-Updated-banner-01.jpg 1250w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/h3>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Portfolio_Strategy_GARP\"><\/span>Portfolio Strategy \/ GARP<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Growth at a Reasonable Price opportunities<\/p>\n<p>?IT<\/p>\n<p>?Financials<\/p>\n<p>?Capital goods<\/p>\n<p>?Urban consumption<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_Industrial_Capital_goods\"><\/span>Outlook: Industrial \/ Capital goods<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><a target=\"_blank\" rel=\"nofollow noopener\">Tata Mutual Fund<\/a> positive? on this, based on recovery in the investment cycle, led by healthy cash flows in the corp. sector + Govt\u2019s counter-cyclical fiscal policy.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_Financials\"><\/span>Outlook: Financials<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><a target=\"_blank\" rel=\"nofollow noopener\">Tata Mutual Fund<\/a> has increased exposure here?, expecting strong earning momentum due to high credit growth, margin expansion, and lower NPAs. This includes mid and small-sized banks (trading at early cycle valuations)<\/p>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Outlook_IT\"><\/span>Outlook: IT<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p><a target=\"_blank\" rel=\"nofollow noopener\">Tata Mutual Fund<\/a> is underweight on IT due to global uncertainty over the next 6 months?\u200d\u2640\ufe0f And now,\u00a0<a target=\"_blank\" rel=\"nofollow noopener\">Tata Mutual Fund<\/a>\u2019s analysis of Market performance in 2022.<\/p>\n<p>Fate of Global Equity markets in 2022 decided on 2 wars:<\/p>\n<p>1\/ Ukraine<\/p>\n<p>2\/ Central Banks\u2019 war on Inflation<\/p>\n<p>&nbsp;<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQFQRusPXxcNtA\/article-inline_image-shrink_1500_2232\/0\/1673519645935?e=1678924800&amp;v=beta&amp;t=9tphKDiVouVcZ_bnf15En9cMIjYsldabw83rja2Vme8\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Global_Markets_Performance\"><\/span>Global Markets Performance<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>But Q4-CY2022 brought relief:<\/p>\n<p>?Softening of rate hikes expected, with peak terminal rate likely by Jun-23<\/p>\n<p>?Growth revival likely due to<\/p>\n<p>?Lower inflationary pressures<\/p>\n<p>?Rate cuts<\/p>\n<p>?China\u2019s Covid-19 policy relaxations<\/p>\n<p>?a lower base<\/p>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<h4><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"India_Markets_Performance_2022\"><\/span>India Markets Performance 2022<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Nifty 50 ? 4.3%<\/p>\n<p>Sensex ? 4.4%<\/p>\n<p>Reasons:<\/p>\n<p>&#8211; Easing of global macro headwinds<\/p>\n<p>&#8211; Resilience of FPI equity flows<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQFI7UTbNh0pYA\/article-inline_image-shrink_1500_2232\/0\/1673519685303?e=1678924800&amp;v=beta&amp;t=4ID7lV6flGF5Z_Zu603j6T0GTYT7yyCA63icodet6PM\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Sectoral_Performance\"><\/span>Sectoral Performance<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Banking: Credit Growth, Margin Expansion and Lower Credit Costs: all 3 levers firing ?<\/p>\n<p>PSU Banks made the highest \u2795 gains<\/p>\n<p>?\u200d?IT: Biggest laggard. Suffered due to margin pressure + murmurs of global recession ?<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQGlrGH5-UevGg\/article-inline_image-shrink_1500_2232\/0\/1673519721972?e=1678924800&amp;v=beta&amp;t=brDyKXcRpdEUZzksmLjq9E9GS6jB4nz-HhRQINxg1yc\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Sectoral_Performance-2\"><\/span>Sectoral Performance<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>?Pharma: Spent another year weathering the price pressures<\/p>\n<h4><\/h4>\n<h4><\/h4>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Market_Cap_Performance\"><\/span>Market Cap Performance<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Large cap and Mid cap indices ended with positive gains ?\u2026<\/p>\n<p>\u2026but Smallcap declined ?<\/p>\n<p>&nbsp;<\/p>\n<figure><\/figure>\n<figure><\/figure>\n<figure>Equity Flows &#8211; FIIs &amp; DIIs<\/figure>\n<p>&nbsp;<\/p>\n<p>?FIIs: Net sellers of Indian equities in 2022, despite some reversal of the trend in recent months<\/p>\n<p>?Financial Services ? &amp; Telecom? primarily held by FIIs. These could benefit from this slowdown of outflows.<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQHg_FI7btFFGw\/article-inline_image-shrink_1000_1488\/0\/1673519799449?e=1678924800&amp;v=beta&amp;t=jgRlVzGRvfi3mOclWmYQfIdJg8mB1MrGScISG0OB7RU\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Equity_Flows_-_FIIs_DIIs\"><\/span>Equity Flows \u2013 FIIs &amp; DIIs<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?DIIs have picked up the FII selling momentum<\/p>\n<p>?DII ownership of Indian equities has grown to an all-time high of 14%+<\/p>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<h4><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Macro_GDP\"><\/span>Macro \/ GDP<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>India\u2019s GDP grew 6.3% in Q2 FY23<\/p>\n<p>vs<\/p>\n<p>13.5% in Q1 FY23<\/p>\n<p>? Growth rate looks tapered due to the high base effect<\/p>\n<p>?Also affected by the slow-moving global economy + weak manufacturing growth<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQFZt-2sVzoG2A\/article-inline_image-shrink_1500_2232\/0\/1673519839882?e=1678924800&amp;v=beta&amp;t=wYy-7JxdpbJlnfLtcpx2BP740rCGdW0wpIK7kQBYjIo\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Macro_Inflation\"><\/span>Macro \/ Inflation<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Nov &#8217;22 figures within RBI\u2019s tolerance band<\/p>\n<p>?CPI inflation fell to 11-month low of 5.9% yoy in Nov&#8217;22<\/p>\n<p>?WPI eased to 5.85% YoY in Nov &#8217;22, its lowest in 21 months<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQHKtIt944m9Lw\/article-inline_image-shrink_1000_1488\/0\/1673519916536?e=1678924800&amp;v=beta&amp;t=Djo5CNtqbY31vclOyTQ8KFVsX0C0XrEInb81JDEuU90\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<h4><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"Macro_Currency\"><\/span>Macro \/ Currency<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>Aggressive rate hikes by US Fed -&gt; USD appreciated against most currencies<\/p>\n<p>\u20b9?depreciated 10% against $ by CY22\u2026<\/p>\n<p>\u2026but appreciated 1% against British Pound ?<\/p>\n<p>And 3% against Yen in ? in the current FY<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQFzQ958GWlD4A\/article-inline_image-shrink_1500_2232\/0\/1673519951795?e=1678924800&amp;v=beta&amp;t=BE_DsSAedJ4Fk43HCHpLFnABptureVyMjwRxDdyzzCc\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Macros_FOREX_Reserves\"><\/span><strong>Macros \/ FOREX Reserves<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>FX reserves came down ? to $563 B (27 Dec 22) from $630 B (Apr 22)<\/p>\n<p>Oil, coal, electronic items and Capital goods imports up\u2026<\/p>\n<p>\u2026but exports have not kept pace.<\/p>\n<p>BoP position of India is expected to be around 50 Billion USD negative.<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQHTYoex7Gazjg\/article-inline_image-shrink_1000_1488\/0\/1673519996513?e=1678924800&amp;v=beta&amp;t=nMWEwwXMzyCxGt9-2fqHLEzMZrHywKBEQVNBEiYUQfM\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<figure><\/figure>\n<h4><span class=\"ez-toc-section\" id=\"Macro_Crude_Oil\"><\/span><strong>Macro \/ Crude Oil<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Oil got pricier by ~10% in CY22 after witnessing a ~50% jump in CY21.<\/p>\n<p>Crude prices to have a crucial impact on rupee volatility BoP<\/p>\n<p>Prices are now more a function of geopolitics, than demand\/supply<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQElQVCYHSePJQ\/article-inline_image-shrink_1000_1488\/0\/1673520169014?e=1678924800&amp;v=beta&amp;t=Xt5dTyYfjcjJhLCJHfh3xWLv_-5vo4Z7vM1IXhFMru4\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Macro_Interest_Rates\"><\/span>Macro \/ Interest Rates<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>RBI&#8217;s MPC focused to ensure inflation remains within the target, while supporting growth.<\/p>\n<p>&nbsp;<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQG2o68gkFx98g\/article-inline_image-shrink_1500_2232\/0\/1673520195869?e=1678924800&amp;v=beta&amp;t=1PJ5VDkKS18UvhpkIIV07LCYIb9X48d52fGCdNhiHsk\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h3><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"Macro_Trade_Surplus_-_Deficit\"><\/span>Macro \/ Trade Surplus &#8211; Deficit<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Current Account Deficit at 10-year high likely in FY23<\/p>\n<p>?Trade deficit &amp; CAD closely linked &#8211; periods of high trade deficit lead to high CAD in India<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQE2m7M-5AgWrw\/article-inline_image-shrink_1000_1488\/0\/1673520223965?e=1678924800&amp;v=beta&amp;t=xEz8EiH11AlVZ_LQK0X0j0YCrJ9wh1K6wE1S5z6r7GQ\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>?Sharp widening of the trade deficit in the current fiscal due to:<\/p>\n<p>?Slowing global demand<\/p>\n<p>?Elevated international commodity prices<\/p>\n<p>?Relatively resilient domestic demand<\/p>\n<p>?Monthly trade deficit from Apr to Nov averaged ~ USD 25 billion, notably higher than the monthly average of USD 16 billion for FY22.<\/p>\n<p>?India\u2019s fiscal deficit was 13.17% of GDP in FY21, the worst in five decades.<\/p>\n<p>?Government may remain in consolidation mode for many years: Fiscal deficit 9.4% of GDP in FY22 and ~7.5% by FY26<\/p>\n<p>&nbsp;<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQG8K9v_40zxQw\/article-inline_image-shrink_1500_2232\/0\/1673520279500?e=1678924800&amp;v=beta&amp;t=xyNpWlcOtN4ykRv3MrtiU33sU97p7rDEeA9kSH8YDNQ\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Valuations_Nifty50\"><\/span>Valuations: Nifty50<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Valuations have come off with earnings growing faster than the market caps but they are still high on an absolute basis.<\/p>\n<p>?Nifty 1y forward PE currently 23- 23.5x. This had declined to 20x few months ago.<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQEXOcmv2UvoJg\/article-inline_image-shrink_1000_1488\/0\/1673520418180?e=1678924800&amp;v=beta&amp;t=RkouDw7Nxid1ByCB--axgPsL3txhxfzZIWrHyZ-hj8U\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Valuations_India_vs_Emerging_Markets\"><\/span>Valuations: India vs Emerging Markets<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?MSCI India index (+8%) outperformed MSCI EM index (-20%) over last 12M. And by 187% over last 10Y<\/p>\n<p>?In P\/E terms, the MSCI India index trading at a 139% premium to the MSCI EM index, above its historical average of 67%.<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQExNcQFq9LIFQ\/article-inline_image-shrink_1000_1488\/0\/1673520444182?e=1678924800&amp;v=beta&amp;t=VbCF_kXEiW3JzFUFR9BxkkPQvKnCW-7raBke4EQtIfU\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Valuations_Mid_Cap\"><\/span>Valuations: Mid Cap<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>&nbsp;<\/p>\n<p>?Headline valuations for Nifty Midcap 100 suggest we are in an acceptable zone, a platform for the broader markets to continue to do better.<\/p>\n<figure><img class=\"lazy-loaded\" src=\"https:\/\/media.licdn.com\/dms\/image\/D4D12AQG3KsaGYq9FAQ\/article-inline_image-shrink_1000_1488\/0\/1673520475139?e=1678924800&amp;v=beta&amp;t=zXXzl-DwHbegS6XmduAb2DY6wR6zIfojKashSuLZcHU\" alt=\"No alt text provided for this image\" data-media-urn=\"\" \/><\/figure>\n<p>&nbsp;<\/p>\n<p>That was a quick glance at\u00a0<a href=\"https:\/\/kuvera.in\/amc\/tata\">Tata Mutual Fund\u2019s<\/a> Equity outlook.<\/p>\n<p>&nbsp;<\/p>\n<p>Like this quick summary of the report? Keep following us for more insightful content on finance, investment and economy.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Interested in how we think about the markets?<\/strong><\/p>\n<p>Read more: <a href=\"https:\/\/kuvera.in\/blog\/in-investing-the-simplest-things-are-the-hardest\/\">Zen And The Art Of Investing<\/a><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Watch here:<\/strong> ELSS: Saving tax through mutual funds<\/p>\n<div class=\"embed-container\"><iframe src=\"https:\/\/www.youtube.com\/embed\/J7Onnod80Y4\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/div>\n<div><\/div>\n<p>Start investing through a platform that brings goal planning and investing to your fingertips. Visit <a href=\"https:\/\/www.youtube.com\/watch?v=R7g03UwJAT8&amp;utm_source=Blog&amp;utm_medium=Weekly+wrap+22nd+July\" target=\"_blank\" rel=\"noopener\">kuvera.in<\/a> to discover Direct Plans and <a href=\"https:\/\/kuvera.in\/explore\/fixed-deposit\/c\/all\">Fixed Deposits<\/a> and start investing today. #MutualFundSahiHai #KuveraSabseSahiHai<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this blog, we are going to discuss all the key highlights of Tata Mutual Fund&#8217;s Equity Outlook 2023 report. We are going to understand all the important financial events that shaped 2022 and how the economy and markets are going to perform as per the report. &nbsp; If you don&#8217;t want to read the [&#8230;]<\/p>\n<p><a class=\"btn btn-secondary understrap-read-more-link\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":11,"featured_media":20689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[328,335],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TATA Mutual Fund Equity Outlook 2023 Summary<\/title>\n<meta name=\"description\" content=\"Summarizing the Tata Mutual Fund&#039;s Equity Outlook 2023. Know all the financial event that shaped 2022 &amp; how will the markets perform in 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TATA Mutual Fund Equity Outlook 2023 Summary\" \/>\n<meta property=\"og:description\" content=\"Summarizing the Tata Mutual Fund&#039;s Equity Outlook 2023. Know all the financial event that shaped 2022 &amp; how will the markets perform in 2023.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/\" \/>\n<meta property=\"og:site_name\" content=\"Kuvera\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/kuvera.in\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-17T05:27:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-17T08:09:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/01\/tata-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"708\" \/>\n\t<meta property=\"og:image:height\" content=\"406\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kuvera\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:site\" content=\"@Kuvera_In\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kuvera\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"TATA Mutual Fund Equity Outlook 2023 Summary","description":"Summarizing the Tata Mutual Fund's Equity Outlook 2023. Know all the financial event that shaped 2022 & how will the markets perform in 2023.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/","og_locale":"en_US","og_type":"article","og_title":"TATA Mutual Fund Equity Outlook 2023 Summary","og_description":"Summarizing the Tata Mutual Fund's Equity Outlook 2023. Know all the financial event that shaped 2022 & how will the markets perform in 2023.","og_url":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/","og_site_name":"Kuvera","article_publisher":"https:\/\/www.facebook.com\/kuvera.in","article_published_time":"2023-01-17T05:27:10+00:00","article_modified_time":"2023-01-17T08:09:02+00:00","og_image":[{"width":708,"height":406,"url":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2023\/01\/tata-cover.jpg","type":"image\/jpeg"}],"author":"Kuvera","twitter_card":"summary_large_image","twitter_creator":"@Kuvera_In","twitter_site":"@Kuvera_In","twitter_misc":{"Written by":"Kuvera","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#article","isPartOf":{"@id":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/"},"author":{"name":"Kuvera","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/person\/6b774e7d3516942b9e0242c93d7cb307"},"headline":"Outlook for global &#038; Indian markets and economy | TATA Mutual Fund","datePublished":"2023-01-17T05:27:10+00:00","dateModified":"2023-01-17T08:09:02+00:00","mainEntityOfPage":{"@id":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/"},"wordCount":1118,"commentCount":0,"publisher":{"@id":"https:\/\/kuvera.in\/blog\/#organization"},"articleSection":["Kuvera Insights","KuveraQuickTakes"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/","url":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/","name":"TATA Mutual Fund Equity Outlook 2023 Summary","isPartOf":{"@id":"https:\/\/kuvera.in\/blog\/#website"},"datePublished":"2023-01-17T05:27:10+00:00","dateModified":"2023-01-17T08:09:02+00:00","description":"Summarizing the Tata Mutual Fund's Equity Outlook 2023. Know all the financial event that shaped 2022 & how will the markets perform in 2023.","breadcrumb":{"@id":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/kuvera.in\/blog\/tata-mutual-fund-equity-outlook-2023-summary\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kuvera.in\/blog\/"},{"@type":"ListItem","position":2,"name":"Outlook for global &#038; Indian markets and economy | TATA Mutual Fund"}]},{"@type":"WebSite","@id":"https:\/\/kuvera.in\/blog\/#website","url":"https:\/\/kuvera.in\/blog\/","name":"Kuvera","description":"Wealth Management, Simplified","publisher":{"@id":"https:\/\/kuvera.in\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kuvera.in\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/kuvera.in\/blog\/#organization","name":"Kuvera","url":"https:\/\/kuvera.in\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/cropped-cropped-kuvera-logo-dark-3.png","contentUrl":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2022\/07\/cropped-cropped-kuvera-logo-dark-3.png","width":83,"height":13,"caption":"Kuvera"},"image":{"@id":"https:\/\/kuvera.in\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/kuvera.in","https:\/\/twitter.com\/Kuvera_In","https:\/\/www.instagram.com\/kuvera.in","https:\/\/www.linkedin.com\/company-beta\/10456535\/"]},{"@type":"Person","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/person\/6b774e7d3516942b9e0242c93d7cb307","name":"Kuvera","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/kuvera.in\/blog\/#\/schema\/person\/image\/","url":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/07\/social-media-logo-02-alt-v3-150x150.jpg","contentUrl":"https:\/\/kuvera.in\/blog\/wp-content\/uploads\/2019\/07\/social-media-logo-02-alt-v3-150x150.jpg","caption":"Kuvera"},"description":"Kuvera is India's first free Direct Mutual Fund investing platform. We bring you goal-based investing and innovative features like Tax Harvesting, TradeSmart, Family Account and more!","sameAs":["http:\/\/kuvera.in"],"url":"https:\/\/kuvera.in\/blog\/author\/kuvera-research\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts\/20685"}],"collection":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/comments?post=20685"}],"version-history":[{"count":11,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts\/20685\/revisions"}],"predecessor-version":[{"id":20700,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/posts\/20685\/revisions\/20700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/media\/20689"}],"wp:attachment":[{"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/media?parent=20685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/categories?post=20685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kuvera.in\/blog\/wp-json\/wp\/v2\/tags?post=20685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}