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Below Quote On Morning Market 01 Janurary 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services 

"As the New Year begins it is a Goldilocks scenario for the economy and markets. The growth momentum in the economy is strong. 7% GDP growth in FY24 is likely to be followed by around 6.7% growth in FY25 with decent corporate earnings growth. The banking system is in the pink of health and all macroeconomic indicators are stable. Political stability after the General elections looks almost certain.
From the global perspective, the US economy appears to be heading for soft landing. The US 10-year bond yield at 3.87 % and the dollar index at 100.6 are tailwinds for the market. FPI inflows in 2024 are likely to be robust.
The concern, however, is that most of this good news is in the price; valuations are a bit stretched and above the long-term averages. So, the market is vulnerable to corrections from presently unknown risks.
The broader market is overvalued; safety is in large-caps."

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