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According to Rajesh Cheruvu, the rural economy is expected to revive in FY2025, with a focus on mid- and smallcap stocks and sectors catering to rural consumption. The market mood is positive, with a rise in SIP contributions and a flurry of NFOs. Investors could look at managers with robust research processes and reasonable fund manager bandwidth to consider allocations during NFOs. ....
Long-term investors await the Interim Budget 2024 or Vote on Account for a reaffirmation of AtmaNirbhar Bharat and focus on deepening India s supply chain and investment-led economic expansion. Markets are currently buoyed by liquidity, with strong flows from FIIs and resilient DII flows. The budget may not be as significant as previous ones due to upcoming elections, but infrastructure will remain a focal point, particularly with ambitious PLIs to enhance supply chains and boost supply-driven GDP. Risk factors to watch include managing fiscal deficit and geopolitical risks. ....
"As the market exuberance gradually subsides and valuations again realign with underlying fundamentals, largecaps offer a relatively better margin of safety. However, it is essential to note that from a mutual fund (MF) perspective, the decision to book profits and realign the portfolio carries the potential for increased portfolio churn." ....