The HDFC MF Yearbook 2026 presents an outlook for Indian and global markets, highlighting both opportunities and challenges ahead. Here are some key takeaways, as I see it. A thread (1/10) Indian Markets: Time Correction, Not Crash (2/10)
India experienced its worst relative performance versus emerging markets in 30 years, underperforming by 25% in CY2025. However, this appears to be a healthy time correction rather than a fundamental breakdown - the NIFTY 50 saw a modest 8.7% return while mid and small caps actually declined. What's encouraging is that valuations have moderated significantly, bringing India's premium over EMs close to long-term averages. The market has gone through 15 months of consolidation, which has created better entry points across segments.

A small thread from my interaction with S Naren on @NDTVProfitIndia .. standout comment

"Every stock is discovered. There are so many brilliant stock pickers in India today that every stock is discovered. Best opportunities are coming out from stocks where investors are frustrated and hated. People like us are waiting for this kind of selling." (1/9) This is a market where value investing wont work, but momentum investing will work. Today we are in a late cycle framework. In early cycle, you buy value. In late cycle, momentum works. Sectors will keep going up because earnings will keep getting revised higher. (2/9)

Spoke to two large money managers today.. @ravidharamshi77 and @SunilBSinghania ... a small summation of some of their views.. Small thread.. (1/7)

Key one - Certainly NOT the time to sell in panic. Ravi believes its a great time to build the portfolio. Sunil believes we are close to the capitulation phase, if this is not the bottom already Ravi believed that India will not be a casualty of 'Sell EM' phenomenon. From the next 5-10 years perspective, one should not give up on Emerging markets, as usually when FIIs sell upto 1% of the market cap, usually markets bottom out. FIIs have already sold about 30 billion dollars of M-Cap, and in non-crisis times, this may mark the peaking out of the FII selling. (2/7)

A short thread, incase it helps people who are detected with #Covid. I was, have likely come out successfully and have learnt a lot, about #COVID19 care (1/n) Do homecare if possible, especially if its not a serious situation.. Dont rush to the hospital.. advised by the doctor who treated me and my mom (A Prahlad Prabhudesai). It is mentally less taxing for the elderly, less expensive and puts lesser load on the medical system.
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