Niket Shah says: "2024 could be a year of lower returns as compared to 2023. This is because some of the tailwinds which caused this year’s outperformance (lower oil prices, easy domestic liquidity, certainty on political front) are likely to be missing next year. Nonetheless, given that we should see lower interest rates next year it should result in 8-10% returns for 2024 which will be lower than 2023."