From SBI to IHCL: 23 stocks brokerages are betting for 2023

The Indian markets outperformed most of the global markets in 2022, despite several headwinds like high inflation, rising interest rates, geopolitical uncertainties, and the onslaught of foreign outflows.

So far in calendar year (CY22), frontline indices Nifty50 and the S&P BSE Sensex have climbed around 4 per cent each, as against 10-20 per cent fall in most of the global indices. Broader markets, meanwhile, were mixed as Nifty MidCap 100 index outperformed Nifty SmallCap 100 index, during the same period, shows ACE Equity data.

Going into 2023, analysts believe that the valuations of Indian equities may be closer to long-term