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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.

Anand Varadarajan says investors can consider Gilt funds or Ultra category for different time horizons. The bond market is making peace with rate cuts. SIP contributions are rising due to the financialization of savings. Infra and banking sectors offer growth opportunities. Retail investors are now becoming crucial for the equity markets.

"While the debate is around whether we are at the late stages of a valuation cycle and investor optimism, it is equally important to know that we are at an early stage of an economic cycle. So, while valuations can possibly correct, the earnings trajectory is expected to march on for the next few years and will provide a downside buffer to markets."

Shiv Sehgal says: "With regards to dark horses, I think 2024 is likely to be export-oriented ones like IT and chemicals. This is because, globally, we have had a prolonged manufacturing recession (of more than a year), which has resulted in these stocks significantly underperforming the benchmark indices. Such a prolonged manufacturing downturn in the absence of a global recession is a historical anomaly. However, the global economy now seems to be bottoming out."

Sectoral mutual funds saw an inflow of ₹4,805 crore, smallcaps witnessed an inflow of ₹3,257 crore and multicaps saw an inflow of ₹3,038 crore.