Stable macro, elevated earnings growth to support equities in 2024: Chawla

First half of the current financial year witnessed strong earnings growth of about 30 per cent for the Nifty50 index, says Chawla

Though the market has already priced in most of the possible positive outcomes in 2024, there are still tailwinds, like a rebound in mid- to lower-end consumption and a sharp pickup in corporate capex. These can create room for further upside in the equity market, says Sanjay Chawla, chief investment officer (CIO) – equity, Baroda BNP Paribas Mutual Fund, in an e-mail interaction with Abhishek Kumar. Edited excerpts:

What is your earnings growth expectation for FY24? Will it be enough to sustain the present valuations?

First half of the current financial year witnessed strong earnings growth of about 30 per