India Market Outlook 2020
CY 2019 had a lot of action, both on the markets front, as well as policy measures from the government. We had the NDA regime come back to power with a landslide majority allowing it to move forward on policy decisions. The economy though ended the year with sluggishness and a very visible slowdown.
In contrast large cap equities delivered decent returns and debt markets provided spectacular gains for those who were in duration products. INR depreciation was moderate. Either ways it was a positive experience for investors whose allocations were well balanced.
However, the experience was very negative for investors who had significant allocations towards the mid and small cap segment or credit.
We would like to begin the year by providing a perspective of what has transpired, the positives and negatives that await 2020 and our opinion on portfolio positioning along with the key factors that will help change our investment thesis.
2. Our view on market behaviour in 2019
3. Positives and negatives that await 2020
4. Positioning Portfolios
All graphs in the note has been sourced from ICICI AMC outlook 2020, IDFC AMC, websites and ACE MF Database. The note has been prepared and updated as of 03 Jan 20.
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