The year CY’24 will look forward to continuing the trend against odds of slowing global economy and corporate earnings as higher interest rates start impacting global demand and cost of capital, uncertainty surrounding the election outcomes, erratic weather conditions that could impact global food prices and possible escalation in geopolitical tensions. Given this backdrop and adequate valuations in domestic markets compared to the historic average (India remains a relatively expensive market), I suggest caution and a staggered & selective buying approach from a 3-4-year perspective.
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