ETMarkets Smart Talk: Manish Sonthalia sees Nifty@24,500 in 2024; gives 5 reasons why markets unlikely to

In a market insight, Siddhartha Khemka highlighted robust domestic liquidity and strong interest in quality IPOs. He noted pharma, FMCG, and automotive as promising sectors. Khemka also pointed out Gravita India and Signature Global for their growth potential. Additionally, he expressed optimism for new-age tech stocks like Zomato and Policybazaar.

Multibagger IPO: The NSE SME issue was offered at a price band of ₹91 to ₹95 per equity share in October 2022

Though bankers remain broadly upbeat about 2024, even they admit that after months of headfakes failed to sustain activity, a true return to health could take months. It would be premature to say that there's a normalized IPO market right around the corner, said Eddie Molloy, Morgan Stanley's co-head of equity capital markets Americas.

In the first half of 2024, while global IPO markets cooled, India’s IPO market has been on fire, bucking the trend seen in the US, Japan, and even China.

In the last three days, including this morning when markets opened for trading, all those investors who have overloaded small caps in their portfolio have probably gone through three different emotions. Monday , my portfolio has gone dramatically, should I sell. Tuesday, my portfolio value has recovered, it was just a correction, should I buy more. This morning, once again why the value of my portfolio is down, should I sell. For all those who have gone through these emotions. Let the market be volatile, don't make volatile decisions. Corrections are part of any market and especially when valuations are high, the frequency and magnitude of correction will be higher. For all those who are looking to deploy more money and are focussed on small caps, it would be better to put more checks and balances, both qualitative and quantitative and be selective in buying stocks. More importantly, even after putting in all the efforts of checks and balances, be ready to see a short term drawn down in the value of your portfolio, because if there is a deep correction in the markets, small caps, stocks tend to shed more weight.

Independence Day 2023: Since last year's independence day, there have been 38 mainboard IPOs and more than 135 SME IPOs, raising a significant amount of funds. The IPO market in India has experienced a surge, indicating increasing investor confidence in the economy.

Six IPOs have turned multibaggers in Samvat 2079 with the highest return of over 300% by Kaynes Technology. The other offers which have delivered over 100% returns till date include Plaza Wires, Cyient DL, Global Health, Senco Gold and Utkarsh Small Finance Bank.

The IPO pipeline is booming with 44 issues waiting in the wings to raise ₹48,879 crore, and another 26 awaiting the market regulator’s approval.