New Delhi, May 20 -- Dr. Vikas Gupta, CEO & Chief Investment Strategist at OmniScience Capital, believes several sectors in India are showing immense investment opportunities, with banking, IT, logistics, defence and power among others can emerge as wealth-creating sectors over the next few years. On the index level, he sees things aligning, with the reclusive earnings recovery possible this year. However, for index investors in mid and small-cap, he advised being careful as these indexes are overvalued. Edited excerpts:

As the various factors causing uncertainty are settling down, the earnings growth remains the most important factor which determines the future market direction. We should ideally not focus on the earnings at the index l...