New Delhi, Jan. 1 -- 2025 wasn't an easy year for Indian stock markets. Returns lagged, global peers moved ahead, foreign investors moved away, and investors were reminded that even the strongest market narratives go through uncomfortable phases. However, as 2026 begins, the outlook appears positive but grounded. India's growth momentum, policy continuity, capex push and improving earnings visibility offer reassurance.

At the same time, risks remain on the radar, with geopolitical tensions, weaker dollar, and slower global growth are likely to keep volatility an integral part of the market journey.

Analysts believe a clear directional shift is likely only in early 2026, when institutional participation normalises and fresh triggers emer...