India Market Performance & Predictions: Investec Analysis

Indian Market Shows Strong Performance, Market Correction Possible in 2024

The Indian market has outperformed major global markets in the past year and the last decade, with experts predicting a market correction of close to 90 percent in 2024, according to brokerage house Investec. Despite this forecast, a crash with over a 25 percent decline is not expected in the near future due to reasonable valuations and historical imbalances being corrected. While external factors and geopolitics continue to pose risks, India’s vulnerability is lower compared to previous years. Furthermore, India is expected to address its chronic Current Account Deficit (CAD), which will have a positive impact on the investment cycle. Investec remains optimistic about the private Capital Expenditures (CAPEX) cycle, supported by a significant increase in corporate profitability over the past three years.