Over the short to medium term ie: next 1-2 years, the markets would focus on earnings delivery as there is limited upside from valuations. Retail investors continue to invest regularly providing long-term support to the markets. We believe that his combination of fundamentals and liquidity will anchor a bull-market in stocks.
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This strength is underpinned by robust domestic demand, a sustained capex cycle, and relatively limited exposure to global shocks compared to developed markets.