Markets will continue to attract more flows than bank deposits: Nuvama Asset Management CIO

Investors are looking for direction and clarity as stock markets manage global uncertainties. Nikhil Ranka, chief investment officer, equity alternatives, Nuvama Asset Management, told Nikita Vashisht in an email interview that retail investors should look for "bottom-up ideas" in mid and smallcap stocks to get "superior" returns. Edited excerpts:

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What is your view about the markets, short to medium term?

Given the broad-based slowdown, as suggested by macroeconomic indicators, markets will likely consolidate in the 24,800-25,800 range in the short term. We, however, expect Nifty to post an EPS (earnings per share) of 1,300 for 2026-27 (FY27). Based on (estimated) 20x FY27 EPS, we arrive at the Nifty's fair value of 26,000 in six to nine months.

What are the three themes investors could bet on in the current market for long-term wealth creation?