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The market valuation of Reliance Industries zoomed Rs 86,317.26 crore to Rs 15,77,092.66 crore, the most among the top-10 firms.

Moreover, going ahead, FPIs may not turn aggressive sellers due to domestic factors like an impressive turnaround in current account deficit (CAD), which has improved substantially due to rising exports.

Five out of six new-age stocks that made their way to Dalal Street during the flourishing market period of 2021 have suffered double-digit cuts between 16-52% in financial year 2023, causing an erosion of Rs 84,742 crore in market cap. The lack of valuation comfort and a rising interest rate environment turned high-growth stocks into wealth destroyers. Nykaa suffered the maximum losses at 53%, trailed by Zomato, CarTrade Tech, Delhivery, and PB Fintech.

Nevertheless, Tara faced a new challenge of determining how to identify a trend. With a wise smile, Dev replied that there were several techniques to identify trends in the financial markets.

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Investment adviser and partner at Smart Sync Services, Ankit Kanodia, expresses his preference for affordable housing finance companies over HFCs. He identifies only three major companies listed in that space, which enjoy a lack of competition. Their average ticket size is less than INR 10 lakh, making them unsuitable for more prominent players such as HDFC or Kotak. Conversely, Kanodia is cautious about the defence sector, pointing out its below-par performance over the past 20-30 years.

Diana remained Wall Street’s biggest bull, with a $500 price target on the stock right before the bank’s demise. He didn’t pull his buy rating until Silicon Valley Bank was taken over by the Federal Deposit Insurance Corp. on March 10. Diana declined to comment

Despite multiple three-sigma events, Indian markets have withstood the challenges and valuations remain intact. PSU banks will continue to perform well over the next 12 months as credit growth and NIMs remain strong. Indian IT companies are well placed due to their zero debt and therefore, offer favourable valuations. Real estate in South India, particularly Bangalore, look profitable due to a strong demand.

Prominent money managers have stopped chasing the latest stock rally, reasoning that expectations for easier Federal Reserve monetary policy are overblown with inflation still running hot. Should any rate cuts come, they would be intended to halt an economic downturn that also would bode poorly for equity returns, their thinking goes.