IT, Pharma Shine As Inflation Data Boosts Risk Appetite | Market Guru Sadip Bansal

On December 19, 2025, amid a market rebound with Nifty reclaiming 25,900, ASK Investment Managers' Deputy CIO Sandeep Bansal shared a hopeful 2026 outlook after a painful 2025. He expects earnings growth recovery, improved sentiments from potential US trade deals/bilateral agreements, and rising government/private CAPEX benefiting from rate cuts. Fresh deployments focus on domestic cyclical plays - BFSI (credit growth, asset quality, valuations), discretionary consumption, manufacturing/capital goods. Tactically bullish on IT due to weak rupee boosting exports, attractive valuations, and improving demand. Prefers large-caps for better risk-adjusted returns; selective mid/small-cap opportunities. Advises cleaning weak portfolios, expects FII return. Long-term India story intact at ~21x forward earnings.