In 2023, we saw risk being disproportionately rewarded. India’s equity market had a photo finish in the previous calendar year, with the indices hitting all-time levels. In retrospect, the year belonged to the small & mid-cap stocks. The Nifty delivered 20% return during the calendar year and posted its eighth consecutive year of gains while on the Nifty Smallcap rallied 56% and the Nifty Midcap gained 47% during the same time.
Valuations in Indian markets have become reasonable: Mirae's CIO Surana
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