Analysts are looking ahead to Samvat 2080 with optimism, as the new year, which begins on Diwali day, is expected to bring opportunities for investors. One key influencing factor will be the general elections set to take place in 2024. Some experts believe that if the Indian economy continues to recover, there may be investment opportunities in midcaps.
V K Vijayakumar, chief investment strategist at Geojit Financial Services, is bullish about the Indian market’s potential for growth, citing the resilient economy and strong corporate earnings as key attractions for big investment. He predicts that institutional money, both domestic and foreign, could flood the market, potentially driving the Nifty beyond 23,000 by the next Samvat. Similarly, Pranav Haridasan, MD & CEO of Axis Securities, sees favorable conditions for growth in India, foreseeing double-digit returns and earnings growth for Indian equities in the next 2-3 years.
Looking back at Samvat 2079, equity investors saw positive returns due to a bull run and stable fundamentals. Nifty50 outperformed the MSCI EM index, while mid and small cap indices also performed well, with Nifty Midcap 100 and Nifty Smallcap 250 both seeing significant gains.
Tata Mutual Fund is optimistic about the investment opportunities in midcaps, particularly in a growing market with low leverage. However, analysts expect any election rally to be led by large-cap companies, with sectors such as financials, capital goods, and automobiles likely to outperform. On the other hand, experts are negative on companies based on urban consumption and commodities.
The volatility of crude oil prices and the ongoing Israel-Hamas conflict have added uncertainty to the market, with potential implications for valuations in the upcoming Samvat.
In conclusion, as Samvat 2080 approaches, investors and analysts are cautiously optimistic about the opportunities it may bring, while also keeping an eye on global factors that could impact the market.
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