2024 - Year of opportunities!

economictimes.indiatimes.com:

The year 2023 vs 2022

Following a challenging 2022, 2023 proved to be a year of recovery, NIFTY with strong growth of about 20% in CY2023 compared to a meagre 3% in CY2022.

Globally, except for a 15% decline in the Chinese and Hong Kong markets, the markets recovered between ~14% and ~25%. Notably, the NASDAQ jumped 45% while the S&P 500 increased by 25%.

Healthy returns of CY2023 were on back of negative returns in the range of negative ~8 to ~34% in CY2022 with NASDAQ falling the most at 34% and an exception of Indian markets (positive 3%) being stronger than the world.

The year 2023 was not without difficulties, though, as interest rates reached previously unheard-of levels, sparking fears about future economic growth and recessionary expectations in the developed world.

Despite challenges, Indian markets and a number of sectors saw outstanding performance, with real estate (up 78%), PSE (up78%), and Autos (up 45%) showing particularly strong returns.

The outstanding returns were delivered for the BSE SME IPO index delivering 91%. Abundant liquidity fuelled the IPO markets with astounding oversubscriptions.

Moreover, the shift in ownership dynamics, marked by higher domestic ownership and strong inflows, added strength to the market.

Global Economic Scenario

In the context of the global environment, the US showed encouraging growth despite early worries about a recession. Conversely, the Euro zone experienced economic recession while China struggled with real estate worries.

Even though there were fears of a recession throughout the year, falling inflation and expectations of a rate cut in 2024 sparked optimism in risk assets and the global market by the end of the year.

In addition to the possibility of