Broking industry revenues could be healthy in FY24, says Dhiraj Relli

As trading volumes are likely to be firm, broking industry revenues could be healthy in fiscal 2023-24 (FY24), even as the yields may not have much further to fall

The run up in the Indian markets since their March 2023 lows has been mostly led by foreign investor flows. DHIRAJ RELLI, MD & CEO, HDFC Securities, tells Puneet Wadhwa in an email interview that FIIs could broadly remain bullish on Indian equities given the fact that India remains a bright spot among emerging economies. Edited excerpts:
 

How do you see FY24 playing out for the broking industry?

After a subdued April 2023, trading volumes have remained healthy. Foreign portfolio investor (FPI) flow-driven market rally has attracted local traders and investors and action has spread to broader markets. F&O volumes continue