But after partying hard in the last couple of months, fatigue among bulls is likely to be seen entering into the New Year, shows various data indicators.
Niket Shah says: "2024 could be a year of lower returns as compared to 2023. This is because some of the tailwinds which caused this years outperformance (lower oil prices, easy domestic liquidity, certainty on political front) are likely to be missing next year. Nonetheless, given that we should see lower interest rates next year it should result in 8-10% returns for 2024 which will be lower than 2023."
In the past month, Sun Pharma gained 7%, Aurobindo Pharma jumped 20%, Lupin and Mankind Pharma rose 9% each. The gains have pushed these stocks to their 52-week highs. The Nifty Pharma Index has gained 8% in the past month, as against the 3.4% upmove in the Nifty.
An increasing number of wealthy Indians are looking at portfolio management services (PMS) to manage their wealth and generate returns higher than the market or mutual funds. While assets have nearly trebled in the past seven years, the elite money managers have never been more bullish - Issue Date: Aug 06, 2023
Thanks to foreign investors relentless buying, the benchmark Nifty50 and Sensex have risen more than 15% from the March lows and reached new highs. Indian equities also joined the club of the best-performing markets in 2023. However, compared to other emerging and developed market peers, India underperforms.