Mihir Vora, CIO of Trust Mutual Fund, which manages assets worth around ₹3,794 crore, said the market setup at the start of the new Samvat year is the opposite of what it was last year. “Last year, there was huge optimism and the markets had done so well,” he said. “Now, everybody is complaining that markets have not done much for the last 12 months. It’s a good place to start psychologically because there is no euphoria at this point.”

According to Vora, the macroeconomic backdrop has also reversed. “Last year we had more of inflation concerns in India. Now it is the other way around. There are potential inflation concerns brewing in the West, but India is in a good spot,” he said, adding that there is now “ample scope for cutting rates.”

He said the government and the RBI appear to be

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