6 wealth creation themes that may influence stock market in 2026

ASK Private Wealth, the wealth management arm of the Blackstone-backed ASK Asset and Wealth Management Group, released its Outlook 2026 report titled “2026: Six Themes and One Worry Not”, outlining six key themes it believed would meaningfully influence markets in 2026.

The firm highlighted AI adoption, trade tariff resolution, central bank policies, sectoral rotation, FII interest and the mainstreaming of alternatives as the primary drivers of wealth creation. It said the current AI cycle differed from previous technology booms, as earnings growth, rather than valuation expansion, was driving market performance. Global technology companies continued to deliver positive earnings surprises, reinforcing the view that the AI cycle was grounded in fundamentals.

On the evolving US–India trade backdrop, ASK Private Wealth said factors supporting an eventual tariff resolution outweighed the risks. Despite uncertainty, India had managed the impact well, with the overall trade balance remaining stable and the currency tracking within historical ranges, it said.

Commenting on the report, Somnath Mukherjee, chief investment officer at ASK Private Wealth, said 2026 was not expected to be driven by a single macro theme, but by dispersion across sectors, AI-led profitability, easing trade concerns and a return of foreign strategic capital to India. He added that faster sector churn and the rise of alternative assets in portfolios are likely to strengthen market depth, while concerns around US debt are largely noise compared with the importance of focusing on themes with sustainable return potential.

The report said strong policy buffers, with real interest rates remaining elevated across major economies, gave central banks sufficient room to stabilise markets if volatility increased.

ASK Private Wealth also pointed to a revival in foreign strategic and institutional interest in India, particularly in banking and real estate. It said large cross-border transactions and renewed foreign direct investment reflected improvements in governance, asset quality and reform momentum, creating attractive entry points for long-term capital.

At the same time, the firm noted that alternative assets were moving into the mainstream. Gold continued to benefit from multi-year demand drivers, REITs and InvITs had delivered consistent yield-plus-appreciation profiles, and private markets offered early access to high-growth sunrise sectors such as deep technology and climate solutions.

The report added that growing foreign interest could support a return of FIIs to public markets and reinforced the need for diversified portfolios anchored in fundamentals and long-term earnings resilience.