January is normally a poor month for market

As 2023 attracts to a shut, essentially the most important characteristic of the yr’s rally is the sharp outperformance of the broader market, says V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The midcap index is up by virtually 45 per cent and the small cap index is up by 55 per cent leaving the Nifty far behind with appreciation of round 20 per cent. This pattern is more likely to be reversed in 2024 for the reason that mid and small caps are overvalued and enormous caps are comparatively pretty valued, he stated.

Autos, development and financials are set to do nicely in 2024. Autos are in a cyclical rebound, financials are pretty valued even after the current run up and the prospects for construction-related segments proceed to look good. Capital items will proceed to do nicely in 2024 too.

January is normally a poor month for the market. Q3 outcomes and administration commentary will probably be keenly watched by the market, he added.

BSE Sensex is down 174 factors at 72235 factors. SBI, Infosys, Kotak Mahindra Bank, NTPC are down greater than 1 per cent.

PSU and oil and fuel indices are trending decrease.

(With inputs from IANS)