 "Growth, economy")
ITI Mutual Fund on Tuesday said that sectors like insurance, telecom, domestic and global pharmaceuticals, power finance companies and defence have a multi-year growth opportunity in front of them, adding that food delivery and quick commerce companies may do well as they are an emerging business.
In its equity market outlook for the financial year (FY) 2024, the fund house noted that the market's future course will be determined by the earnings growth trajectory, capex, policy initiatives like PLI, Lok Sabha election outcome, and the timing and quantum of interest rate easing globally.
"We are at an early stage of the economic cycle unlike in 2003-07 wherein markets were in the late stage of the valuation cycle and economic cycle and they corrected sharply. We continue to believe that the investment environment going forward will be a stock picker’s market. There could be instances where companies operating in the same sector may end up reporting a diverse set of financial results," said Rajesh Bhatia, Chief Investment Officer (CIO), ITI MF.
According to the fund house, the weak rural demand may remain a headwind this year.
