Nifty, Sensex could see another 8-10% upside in 2024: HDFC Securities

The brokerage said its preferred sectors are large-cap banks, industrial and real estate, power, autos, pharma, OMCs, gas, and capital markets

The benchmark Nifty and Sensex could see another 8-10 per cent from the current levels, said HDFC Securities in its outlook for equity markets in 2024.

The brokerage said that the market movement in the next year will not be linear, and there will be more volatility.

 When asked about the market reaction to the General Elections in 2024, Dhiraj Relli, managing director and CEO of HDFC Securities, said more than the outcome of the elections, the market movement in the next three to four months will decide the market trajectory post elections.

“If we price in everything in advance,