Top India fund manager favours banks, power as oil risks loom
Economic Times 1 hr ago·31 Jul 2026, 3:02 am
ICICI Prudential Asset Management’s Chief Investment Officer, Sankaran Naren, has highlighted banks and power utilities as key investment themes for the near term. He sees these sectors as attractive despite global economic headwinds, pointing to improving earnings prospects and favorable valuation levels. This outlook suggests that domestic infrastructure and financial sectors may offer stability as investors navigate international volatility.
However, Naren has warned that a sudden spike in crude oil prices could pose a significant challenge. Higher fuel costs often squeeze corporate margins and increase inflation, which can pressure market valuations. Investors should therefore monitor global oil trends closely, as they could impact the performance of broader market indices even as corporate profits begin to recover.
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