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Why Indian markets are under pressure despite strong mid-cap earnings: Nilesh Shah explains
CNBC-TV18 1 hr ago·28 Sept 2026, 10:52 am
Indian equity markets are currently navigating a complex environment where strong corporate earnings are coexisting with broader market pressure. Nilesh Shah, Managing Director of Kotak Mahindra AMC, attributes this divergence to several key factors. He highlights the impact of global macroeconomic variables, specifically US interest rates, the strength of the US dollar, and oil prices, which continue to influence investor sentiment.
Despite these headwinds, Shah remains optimistic about the long-term prospects of Indian equities. He points to the Eighth Pay Commission as a potential catalyst for domestic consumption and growth. However, he cautions investors about current valuations and the risks associated with policy changes. His outlook suggests that while the path forward may be uneven, the market's underlying fundamentals remain sound.
For retail investors, Shah advises a cautious approach. While he maintains a preference for mid-cap stocks due to their growth potential, he emphasizes the importance of monitoring valuation levels and policy developments. Investors should be prepared for volatility as the market adjusts to these external and internal factors.
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