As we close 2025, investors are looking ahead to 2026 with cautious optimism. Mirae Asset’s CEO and VC, Swarup Mohanty, shared the themes and strategies he believes will shape the coming year.
Overall Market Outlook for 2026
Mohanty sees 2026 as a year to quietly accumulate assets. He noted that there are no major market triggers on the horizon, so steady earnings growth will be crucial for any significant market moves.
Sector Focus: Banking and Healthcare
Two sectors stand out:
- Banking: Smaller private banks could offer better upside than larger players.
- Pharma & Healthcare: These remain core holdings, with certain consumption pockets being re‑rated, creating stock‑picking chances.
Mohanty described 2026 as a “stock pickers’ market” where careful selection can pay off.
Global Allocation Shift
Mirae Asset has adjusted its overseas mix. The new allocation is roughly:
- 50% United States
- 30% China
- 20% India
This reflects a broader view that these three economies will drive growth.
Foreign Investor Flow Considerations
Bond yields abroad and the rupee hovering around 90 affect foreign capital. Better yields at home and potential inclusion of Indian bonds in global indices could bring sizable inflows.
Thematic & Innovation Investing
Even with passive products, Mirae is creating new index‑based solutions:
- A dividend‑focused product
- A concentrated Nifty product
Key themes remain electric vehicles (EV), artificial intelligence (AI), and energy.
Consumption Trends & GST Impact
GST data shows the unorganized sector moving toward organized businesses, reinforcing India’s consumption story and its appeal as a safe investment destination.
Precious Metals Outlook
Gold is viewed as offering a better risk‑reward balance than silver, moving toward being a core portfolio asset rather than just a hedge.
Investment Priorities for 2026
- Re‑think asset allocation, with a tilt toward mid‑cap stocks.
- Focus on disciplined behavior; investor mindset matters more than the specific asset class.
- Continue to seek stock‑picking opportunities as markets become selectively overvalued.
Bottom Line
Mohanty summed up the year in one phrase: “Naya Daur.” With a mix of sector picks, thematic bets, and a refreshed global outlook, he believes 2026 could usher in a new era for investors.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research and consider your risk tolerance before making any investment decisions.