It has been a scrambled five months for Indian equity markets. Jitendra Gohil, director, global investment management at Credit Suisse Wealth Management India, in conversation with Puneet Wadhwa, says he expects a high single-digit to low double-digit return for Indian equities in calendar year 2023 (CY23), with a preference for mid-caps over large-caps. Edited excerpts:
When do you see Indian equity markets exiting the phase of consolidation?
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CY23 will be a volatile but rewarding year for Indian equity investors, with the purpose of consolidating in the first six months, followed by recovery in the second half. We continue to hold this view but acknowledge that recovery has been somewhat earlier than anticipated.