Kotak Institutional Equities’ Sanjeev Prasad observes the Nifty 50 index is range bound. Valuations are expensive, but macroeconomics are decent. Earnings growth faces challenges from domestic and global issues. Good macroeconomics may not translate to market gains. Commodity sectors and tariff increases drive incremental profits. Earnings upgrades are not visible despite positive macro factors.
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Positive macro already priced in, market needs fresh earnings trigger: Sanjeev Prasad
