Market has already factored in BJP's victory, says Achin Goel of Bonanza

While the fundamentals of PSUs remain optimistic, current valuations offer limited upside potential for new entrants, says Achin Goel, vice-president, Bonanza Portfolio

Mid-and small-cap indices surged over 40 per cent in 2023. ACHIN GOEL, vice-president, Bonanza Portfolio tells Rex Cano in an email interview that there are pockets in these two market segments where the valuations have run ahead of their fundamentals, and there can be a time-wise correction. Edited excerpts:

How long will the markets remain in consolidation mode? What key triggers can make them breakout on either side?

Headline indices in India have exhibited a consolidation phase since the beginning of 2024, registering a modest increase of only 1.8 per cent. This muted performance can be primarily attributed to the