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"I am bullish on both Indian equities and the Indian bond market. Pharmaceuticals and healthcare is a sector where we are incrementally turning bullish. Consumption, especially in the lower end has not picked up satisfactorily yet and stocks have underperformed due to this. If this picks up then there could be interesting plays in FMCG, auto (2-wheelers), etc."

"We have been talking about manufacturing pickup, particularly aided by export-led demand for some key sectors like mobiles, white goods, automobiles, and textiles. So, 2024 will determine the conclusive success of these schemes. We believe India has made a sufficient mark on the global platform, and 2024 should provide us with early signs of success on further pickup in the economic activities front."

If one goes by the amount of money which is chasing the IPO’s, it is clear there is enough desire to own Indian stocks. paper. There have been instances where the market peaks have been formed soon after the IPO frenzy. Will this happen this time also is still an open ended question. It would be better to be cautious and look at stocks where in the last one month, there has been an improvement in the underlying score. These selected stocks depict a strong upward trajectory in their overall average score.

Worse-than-expected European data provided the catalyst for EUR/USD to break beneath a long-term level of support. Elsewhere EUR/GBP rises despite encouraging UK data

Oil prices are slightly lower today, but early week strength may resume as dwindling spare capacity among OPEC members causes supply-side concerns.