India's Equity Markets Poised for Growth with Earnings Upgrade and Improved Sentiment

India's equity markets are expected to enter a new phase of strength driven by the first earnings upgrade in over a year, according to Trideep Bhattacharya, CIO-Equities at Edelweiss AMC. Three catalysts supporting the improving outlook are easing global trade frictions, a long-awaited earnings upcycle, and strength across consumer discretionary and financials. Valuations have become more reasonable, with the Nifty 50 trading at 20.5x 1-year forward earnings, close to its 10-year average.