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Market Insights and Sectoral Recommendations for 2024
2023 has been a stellar for Indian Equity Investors as all indices have given strong positive returns. The mid cap and small cap space have given almost 50% during the calendar year. Looking ahead into 2024 we expect the growth momentum to continue.
Here’s the video from Sonal Gupta - Head of Research - Equities, HSBC Mutual Fund:
Equity Market Review
Indian equity indices were subdued in January driven by heavy FII selling. S&P BSE Sensex declined 0.6% while NSE Nifty was flat for the month.
Debt Market Review
The Federal Open Market Committee (FOMC) maintained status quo on rates in its January policy meeting while removing “additional policy firming” from the statement, hinting that policy rates have peaked.
RBI Monetary Policy Review
The Monetary Policy Committee (MPC) came out with their bi-monthly policy statement on February 08, 2024. The MPC decided by a majority of 5 out of 6 members to keep the policy Repo Rate unchanged at 6.50%.
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