‘2026 Is a Stock Picker’s Market’, says HDFC Securities MD and CEO Dhiraj Relli

India’s stock market outlook for 2026, as explained by Dhiraj Relli, MD & CEO, HDFC Securities, remains resilient despite global volatility. The keynote emphasizes strong GDP growth, favorable valuations, and sector – specific opportunities, making 2026 a “s tock picker’s market.”

Speaking at the release of HDFC Securities Big Report in Mumbai recently, Relli said despite the volatility and uncertainty, India’s outlook is “rock solid”, supported by structural growth drivers such as demographics, consumption, and domestic liquidity.

He said FY27 will see broad – based earnings growth, moving beyond a few concentrated sectors. Monsoon performance will be a critical factor influencing agricultural output, rural demand, and inflation trends. A strong monsoon could significantly boost consumption and stabilize food prices.

Retail participation continues to expand, with younger demographics actively investing. Liquidity from retail investors is seen as a stabilizing force during global uncertainty.

With favorable valuations, strong GDP growth, and sectoral resilience, India’s equity markets are positioned for long – term gains.