2024 market recap: Domestic Investors’ optimism drives D-Street higher; mid and small-caps lead
Live MintAs 2024 draws to a close, the broad market has delivered a respectable 20% return. India's corporate earnings growth was 25% YoY in December 2023, and this trend continued into March 2024, albeit at a slower QoQ pace, but sufficient to sustain the market rally. However, the trend shifted by the end of September as corporate earnings, which had begun to slow in June 2024, continued to decline, raising concerns about a potential structural issue in India. India's corporate earnings are expected to improve in Q3 and Q4, compared to the subdued performance in H1, supporting a positive market outlook. Both global and domestic economies are experiencing stable growth, albeit slower than the past three years, without significant structural damage, supported by fiscal spending and reduced geopolitical tensions.