Biggest Market Risks & Opportunities In 2026 Explained

In an interview on Business Today Television, Prateek Agarwal, MD & CEO of Motilal Oswal Asset Management, shared an optimistic outlook for Indian equities in 2026 after a challenging 2025 marked by valuation corrections and pain in mid/small caps. He highlighted positives like significant valuation resets (India no longer the most expensive market), tax/GST/rate cuts, global easing, lower oil prices, and rupee depreciation boosting margins. Agarwal expects improved broad-market performance as rupee stabilizes, with tailwinds for growth themes like EVs, renewables, electronics manufacturing, and luxury. He advises focusing on high-growth leaders rather than cap categories, anticipates broader participation (e.g., metals, banks/NBFCs), and sees higher probability of positive outcomes. On gold/silver's strong 2025 run, he views gold as a store of value amid uncertainty and silver as industrial-driven, expecting possible consolidation before further gains.