As India enters Samvat 2083, Vikas Khemani, Founder and Chairman of Carnelian Asset Management, has expressed a bullish outlook on the domestic stock market. He believes the recent market correction could offer long-term investors an opportunity to build positions in quality companies at more attractive valuations.

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According to Khemani, negative market sentiment has pushed down stock prices even as corporate earnings remain resilient. He described the current phase as a potentially valuable period for patient investors, arguing that favourable news and attractive valuations rarely arrive together.

Khemani highlighted several factors supporting his positive outlook, including corporate earnings growth of around 14–15%, relatively comfortable corporate balance sheets and India's ability to maintain an estimated GDP growth rate of 6–7% despite global uncertainties.

For Samvat 2083, he identified four sectors that deserve investors' attention.

Banking and financial services remain attractive, particularly after underperforming for nearly two years despite healthy financial performance. Manufacturing is another area of interest, with auto components and export-oriented chemicals expected to benefit from trade agreements and currency movements.

Healthcare, particularly Contract Development and Manufacturing Organisations (CDMO), also features among his preferred sectors because of its long-term growth potential. In the automobile segment, Khemani sees opportunities supported by attractive valuations and relatively strong margins.

However, he cautioned investors against chasing expensive stocks in sectors such as electronic manufacturing services (EMS), defence and railways. He believes elevated price-to-earnings valuations in these segments could expose investors to corrections.

His broader message for Samvat 2083 is to focus on business fundamentals, reasonable valuations and long-term investment opportunities rather than short-term market momentum.