We are positive on the markets from a medium-to-long term perspective. In 2022, macros were against equities. Inflation has clearly peaked out now, interest rate hike has nearing a pause, and growth indicators for India continue to be strong. Hence, it’s difficult not to be positive on Indian equities. With Nifty50 almost consolidating at around 18,000 levels for 20 months and earnings growth continuing during this period, valuations have become reasonable and offer a good entry point for investors.