2024 will be a year of good double-digit gains in the market: Sandip Sabharwal

economictimes.indiatimes.com:

Sandip Sabharwal, asksandipsabharwal.com, says 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates eventually start coming down.”

While nothing is really happening in the market for the last two days, how do you think the year ahead is going to look like?
The year ahead will be very good. I believe 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. I believe that a lot of people are now worried about higher interest rates. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates are already high and then eventually they will start coming down and what that does to market valuation and overall economic outlook and both of them which are positive.

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Where would you put your money to work? Will it be largecap names, the likes of Reliance? I know you are not too positive on HDFC Bank but will it be the other banking names