Where To Invest In 2023

The markets are at all-time highs and the volatility has increased. It’s not fair to expect the market to continue playing like Surya Kumar Yadav.

- Nilesh Shah

Indian markets may not be expensive based on historical averages, but they are 86% more expensive than other emerging markets, compared to a long-term average of ~40%. If markets have to maintain this, corporations will have to deliver on expectations. This is not the market where you should be leveraged, this is not the market where you can be overweight on equity as an asset class. In case the markets correct from here, one can use this as an opportunity to increase allocation. Now, you won’t increase allocation at one go because there are lots of uncertainties, but whenever correction happens, you keep on increasing your overweight position in a very gradual and calibrated manner.