Expert view: Market recovery may be closer than most people think, says Monarch Networth Capital CEO

Monarch Networth Capital CEO Gaurav Bhandari is constructively bullish on Indian equities, arguing the correction is valuation-driven rather than fundamentals-driven. The Nifty, down around 8% YTD near 24,000 from a January peak of 26,373, now trades at about 20 times trailing PE versus a 5-year median of 22 times, supported by 15.6% FY26 earnings growth for the Nifty 500 and banking NPAs at a 15-year low. He flagged Middle East geopolitics and elevated crude prices as the key wildcard, with his base case being a meaningfully better second half of CY2026.