Going ahead, experts believe that the rally in midcaps and smallcaps in 2024 is not likely to be as strong as the one in 2023 due to high valuations. Furthermore, the analysts have started to prefer largecaps over midcaps and smallcaps in 2024 after last year s surge.
It would be best to enter 2024 with low return expectations from the market, believes brokerage house Kotak Institutional Equities. There is very little value in the market across the capitalisation spectrum after the recent run-up in the mega-cap names, it said.
After a stellar 17 percent return delivered by the Nifty in 2023, market experts and brokerages have mixed views on the index s performance in the year 2024.