New Year Outlook: 9 things you need to know about Dalal Street action in 2024 - D-Street Outlook - The Economic Times

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D-Street Outlook

For Dalal Street, 2023 turned out to be one of the best years in history, with equity markets clocking their highest gains in two years. The Nifty 50 and Sensex ended the year with about 20% gains each and also hit fresh lifetime highs.

As we enter into 2024, the bulls are holding the strings tight, but analysts expect overall returns to moderate in the next year.

Here’s how 2024 is set to look like for Dalal Street, according to a survey by ETMarkets:

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Bullish or Bearish

Stepping into 2024, around 86% of the 24 analysts that participated in ETMarkets survey are bullish on Indian equities.

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Nifty 50 Target

About 57% of the respondents see benchmark Nifty 50 at 23000 odd levels by the end of 2024. This implies an upside of around 6% from the current levels.

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Sensex Target

About 57% of the respondents see benchmark Sensex at 74000 odd levels by the end of 2024. This implies an upside of over 2% from the current levels.

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Election Impact

Analysts are divided on whether equity indices will hit upper circuit if the incumbent government attains victory for the third straight time in the upcoming general elections in 2024. Around 45% of the respondents don’t see indices hitting upper circuits, while an equal number of analysts aren’t able to predict.

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FII Flow Picture

Over 76% of the respondents see foreign institutional inflows (FII) in 2024 to be higher than that in 2023.

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DII Flows

About 70% of the analysts expect inflows from domestic institutional investors outpacing levels of 2023 in 2024.

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Largecap vs Smallcap

After the stellar run in 2023, experts remain divided about returns in smallcap stocks in 2024. Around 38% of the analysts expect largecap stocks to outperform midcap and smallcap stocks in 2024, while an equal amount of the respondents don’t see that happening.

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Asset Class Performance

Even though returns could moderate in 2024, about 81% of the analysts expect equity as an asset class to outperform debt, gold, and real estate.

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Rupee Movement

About 75% of the survey respondents expect the local currency to move in the band of 82-84 a dollar in 2024.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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New Year Outlook: 9 things you need to know about Dalal Street action in 2024 - D-Street Outlook - The Economic Times
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