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Banks well poised for a fairly strong year; pharma could be an underperformer in 2024: Kunal Vora
Kunal Vora of BNP Paribas has concerns about valuations and finds it difficul to find stocks with reasonable growth at this time. He highlights the gap between bond yields and earning yield as an important metric for predicting future returns, noting that historical data shows weak returns when this gap is significant. Vora expects higher returns from Nifty compared to mid and smallcaps this year, and sees value in the financial sector, particularly private banks.