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Aside from banks and IT, Quantum MF is also positive on the medium-term prospects of Indian equities. However, the mutual fund names foreign flows, a revival in private capex and recovery in mass segments as the three key triggers that will guide the Indian market through 2024.
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Investors are expected to keep their expectations lower from mid and small cap equity mutual funds. Driven by inflows from FIIs, stable macroeconomic indicators, the domestic equity market reported its best annual return in 2023 in the past seven years.
Globally, the tone of monetary policy has also become less hawkish, suggesting that the most challenging phase of the cycle of increasing interest rates is now behind. This positive development has opened up the possibility of interest rate softening in 2024 to support economic growth.
While DII flows have been robust for the past few years, rising global interest rates have kept FPI flows under check, as per Quantum Mutual Fund.DIIs have invested $ 20.2 bn in 2023 on top of $ 35.8 bn in 2022. FPI flows have been tepid at $ ...