Nifty 50 up just 2% in last 2 years. Could a bull run be next amid falling oil prices, easing geopolitical risks?

The Nifty 50 has delivered only about 2% return over the last two years and is down 4% over one year, but analysts see potential for a bull run as crude oil prices have crashed over 30% to below $75 per barrel, easing inflation pressure on India which imports 85-90% of its oil needs. RBI MPC external member Nagesh Kumar indicated GDP growth could exceed 7% in FY27, surpassing the RBI forecast, if Middle East tensions continue to ease and oil stays near $70. Experts cited historical patterns where two-year stagnation in the Nifty 50 has been followed by healthy returns over the next one to three years, though monsoon progress remains a key watchpoint with cumulative rainfall deficit currently 42% below the long-period average.