HSBC likes large cap stocks in these sectors in India

“If the market trends higher, but not so fast, it's got to be individual stories. And we see this in other markets as well, Japan and Korea. It becomes increasingly on individual stocks where something is happening; you have so corporate action in certain stocks in India, that is where the action is going to be then,” said Van Der Linde.

Saurabh Mukherjea, Founder and CIO of Marcellus Investment Managers, also shared a similar view in his last conversation with CNBC-TV18 at the end of 2023. He predicted strong movement in large-cap stocks for a year or two.

| Saurabh Mukherjea cautious on small-caps, sees decisive foreign inflows from next year

Mukherjea is hopeful about more money coming into India from other countries because more and more big funds are asking about investing here. "I reckon 2024 will be somewhere between $20 to $40 billion of foreign inflows."

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For the entire interview, watch the accompanying video