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Below are Views on Nifty Outlook By Mr. Anuj Gupta, Vice President, IIFL Securities

We have seen that this year started on a Sideways manner for equity market, as it is hovering around 18000 Levels from last couple of days. In year 2022 it increased by 4.33%. Where Last year Economy was in uncertainty, while from the stating of year 2023 we are seeing the positive vibes over the uncertainty. 

Inflation of India is in under control level at 5.72%, last year it touched 7.79% in April 2022. We have seen a sharp recovery in the inflation.

Crude oil prices are also undercontrol as it is trading at $78 per barell. In year 2022 it touched the high of $130.50 per barell.  So in the front of crudeoil which is the main element of inflation now in undercontrol. And also inventories are on a substantial Levels in the world.

Dollar index which drove the global market last year. It increased last year above 20 Yr high Levels and test 114.68 Levels in sept 2022, but right now it corrected from high more than 11% at trading at 101.36 Levels. This signaled that federal reserve may not increase the interest rates aggressively. Less hawkish stance may Support the global equity market and due to lower dollar index The foreign Institutional Investors may start and look towards India as a potential market.

Agri Crop production is the another big factor for Indian economy. The gross value added in agriculture and allied activity is expected to grow by 3.5% in FY2023. The FY 2023 growth was projected at a sharp 12.50% last year it was 10.30%. In the ongoing rabi season, crops were sown in around 66.58 million hectares, which was 1.9 million hectare more than last year.

Investment in Mutual Fund industry the AUM is more than 40 lacs cr, and more than 14 cr folios. These number will support the market as people will invest and SIP in a manner phase.

Next biggest event is union budget 2023 for India, expecting good to normal budget this year as economy recovers from pandemic. Political stability and control in inflation will impact the markets. 
Edible oil mission, ethanol blending, Increase in GST collection, appreciation in rupee, are the other factors which may provide the Support to Indian economy in fy 2023.

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