Nifty Outlook: Expert Reveals What Can Trigger the Next Big Market Rally

Despite mixed Q1 earnings from major banks and a lack of sustained momentum in IT stocks, the broader market continues to search for its next growth trigger. Ashish Chaturmohta, Managing Director, PMS - JM Financial, believes ICICI Bank remains the standout performer among private lenders, while select NBFCs such as Shriram Finance and Bajaj Finance continue to offer attractive opportunities. He expects the Nifty to remain in a consolidation phase until large private banks regain leadership and help the index break above the crucial 24,500 level. While recent gains in IT stocks are encouraging, he views them as a short-term recovery rather than a structural turnaround, keeping the focus firmly on financials for the next market move.