Largecaps offer safety as mid- and smallcap rallies look overstretched: Nitin Bhasin

Nitin Bhasin of Ambit suggests Indian markets are navigating a landscape of rich valuations and strong flows despite modest earnings growth expectations for FY26, particularly with downgrades in BFSI and healthcare. He points to tariffs as a key directional factor, advising investors to reduce underweight positions in IT and be cautious on banks, favoring large caps amidst market volatility.