Investec sees 90% probability of a market correction in 2024; check top stock picks | Mint

Investec sees 90% probability of a market correction in 2024; check top stock picks | Mint

The Indian market has outperformed major global markets in the last one year as well as in the past decade. Given the outperformance of large-cap (23 percent) and mid-cap (58 percent) stocks in the past year, brokerage house Investec believes the probability of a correction (10 percent drawdown) in 2024 is high. In fact, the probability is close to 90 percent, forecasted the brokerage. Investec, however, does not see an imminent crash (over 25 percent decline) as valuation is not …