Benchmark indices closed November expiry series at record highs with Sensex at 62,272.68 and Nifty at 18,484.10. Markets rallied across the globe as investors welcomed US Federal Reserve’s minutes that suggested slower pace of interest rate hikes going forward. Crude oil prices at 10-month low and India VIX falling to 52-week low also buoyed sentiment.
In this backdrop, investors hope to end the year at new record highs and look forward to 2023. Foreign brokerage Goldman Sachs expects Nifty to reach 20,500 by end-2023, led by mid-teen earnings growth and a modest price-to-earnings compression.
Meanwhile, we spoke to two PMS fund managers who have opposing views on this big market event.
Kanika Agarrwal, Co-founder, Upside AI