Indian Markets Signal Equity Recovery And Leadership

Alchemy Capital's Alok Agarwal says the Nifty 500 completed a 1.5-year consolidation after a 15% decline from September 2024 to March 2025, and believes the bulk of the correction is over. He cites compressed valuations, coordinated fiscal and RBI easing, and improving earnings breadth as catalysts, and highlights metals, capital-market franchises, PSU and regional private banks as likely next leaders.