New Delhi, Jan 1 : As the New Year begins it is a Goldilocks scenario for the economy and markets, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The growth momentum in the economy is strong. 7 per cent GDP growth in FY24 is likely to be followed by around 6.7 per cent growth in FY25 with decent corporate earnings growth. The banking system is in the pink of health and all macroeconomic indicators are stable. Political stability after the General elections looks almost certain, he said. From the global perspective, the US economy appears to be heading for soft landing. The US 10-year bond yield at 3.87 per cent and the dollar index at 100.6 are tailwinds for the market. FPI inflows in 2024 are likely to be robust. The concern, however, is that most of this good news is in the price; valuations are a bit stretched and above the long-term averages. So, the market is vulnerable to corrections from presently unknown risks. The broader market is overvalued; safety is in large-caps, he said. BSE Sensex is down 45 points at 72,194 points on Monday. M&M is down more than 1 per cent. Tata Motors is up 2 per cent, Nestle is up more than 1 per cent. /IANS