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Gautam Shah says: “One has to be very stock specific in this market, but just ensure that you are in stocks which have high institutional interest because there is so much money coming into midcaps and smallcaps, Rs 8,000 crore every month, That will propel many of these stocks higher and they will get re-rated along the way.”

NSE Nifty and BSE Sensex have gained about 19% each this year, and are also on course for their best month of 2023 with 8% gains so far.

Niket Shah says: "2024 could be a year of lower returns as compared to 2023. This is because some of the tailwinds which caused this year’s outperformance (lower oil prices, easy domestic liquidity, certainty on political front) are likely to be missing next year. Nonetheless, given that we should see lower interest rates next year it should result in 8-10% returns for 2024 which will be lower than 2023."

The overall market capitalisation of listed stocks crossed $4 trillion for the first time ever this year, with India ranking 4th in the world in terms of market capitalisation.

Neeraj Chadawar says: “We are identifying the stocks which are contributing to the ancillary demand of the manufacturing cycle. One stock which we identified is Amber Enterprises. The next is Sansera Engineering. This is auto ancillary company and in over a year this company has de-risked its portfolio which was earlier concentrated into IC engine.”

They have a higher market value compared to intrinsic value.

The stock quoted a 52-week high of Rs 2788.35 and a 52-week low of Rs 1660.65.

S Krishnakumar says: “I think consumer durables, building material, home improvement have been spaces where in the next couple of years, we will see very substantial growth and we would see the benefits of margin improvements coming through as the demand situation improves. Even in a big bull market, we will have substantial corrections of 8-10% happening every year across the next five years also. But I think the point is to be invested and ride the growth in earnings and compound your wealth by about 15%.”