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Nifty IT index has lagged behind Nifty 50 in the last year, but experts believe that the sector could witness a revival with improving macros and cost efficiency measures.
FY25 initiates with expectations of double-digit returns in major indices despite past volatility. Market corrections due to external factors balanced by robust domestic investor confidence. Significance of general elections on market trajectory highlighted.
Niraj Kumar discusses market volatility, medium to long term opportunities, value in certain market segments, and positive outlook for BFSI sector in the upcoming earnings season, emphasizing the importance of a bottom-up investment approach. Kumar says: "market has actually gone through a lot of consolidation whether it is IT, FMCG and some of the segments where we have not really seen market moving as much."
Expert view: Rahul Ghose expects the April series to be volatile due to the start of voting. Market consolidation is expected with Nifty levels between 19,000-24,300. The key levels for the April series are at 23,000 (upside) and 21,200 (downside).
FY25 Outlook: Indian stock market benchmarks Sensex and Nifty 50 ended FY24 with gains of 29 per cent and 25 per cent respectively. Challenges for Nifty 50 in FY25 include rate cuts, earnings, geopolitical tensions, etc.