Don't shun midcaps, smallcaps just because they surged 40-50%: Invesco CIO

'What will matter in 2024 from the market standpoint is the direction of interest rates globally, as well as in India. The results of the general elections will also be keenly watched'

The direction of interest rates globally and results of the Lok Sabha elections will determine the trajectory of the Indian equity markets in 2024, says Taher Badshah, chief investment officer (CIO), Invesco Mutual Fund. In a telephonic interview with Abhishek Kumar, Badshah says he is seeing opportunity in the mid-to-lower-end consumption pockets of the market that have not done well in the past two years. He is expecting the FMCG, banking and information technology sectors to turn the corner in 2024. Edited excerpts:

The market has ended 2023 on a strong note. Can this momentum continue in 2024?

What will