Smallcaps with double-digit returns turned multibaggers in Q1 2024, led by Waaree Renewable Technologies and Diamond Power Infrastructure. Despite caution due to SEBI warnings, experts like Rishabh Goel and Varun Saboo remain optimistic about smallcaps earnings growth potential.
Vivek Goel says: "Given that the Budget immediately prior to general elections is an interim one, similar to earlier interim budgets, we do not expect any major announcements. It is most likely expected to maintain the course of current policy giving markets comfort on continuity. With expectations of monetary policy easing up in 2024 after one of the steepest rate hike cycles, we should see FII flows come back strongly as India has stood out in a difficult period."
Entering into the New Year, the outlook for equities remains positive after a splendid 2023 that saw foreign capital and domestic inflows gushing into Dalal Street.
The benchmark Nifty50 is expected to scale 21,000-mark by the next Diwali, according to over 56% of the 16 respondents who participated in the survey conducted by ETMarkets on what the new year for Dalal Street will look like.