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The Santa rally may seep into the global markets in 2024, as per top global banks and brokerages. Indian stock and bond markets should benefit from the countrys strong cyclical momentum and structural growth. Indias corporate earnings are also likely to be boosted by the China+1 strategy, as serious concerns act as a drag on its prospects. ....
“Bottom up, the earnings trajectory, for the index as well as the broader market, has been very, very strong.Valuations being very attractive, banking remains the top pick among many sectors. But outside that, there are many segments within metals and in auto ancillaries in manufacturing, industrial capital goods, again in manufacturing – are the areas where we have been positive.” ....
“It is very prudent to say that while the earnings are strong and to that extent fundamentally supported, the risk reward is not as favourable as they were in the last two to three years. So to that extent, one needs to be careful about what one is buying. The largecaps look relatively safer than mid and smallcaps.” ....