Mumbai, May 19 -- Over the past 18-20 months, identifying large-cap top performers has been challenging amid elevated expectations and lacklustre earnings, according to Sanjay Mookim, head of India equity research at J.P. Morgan.

Currently, only financial stocks appear attractive from a growth and valuation perspective, Mookim says, highlighting the scarcity of compelling opportunities in a market starved of earnings surprises.

The latest earnings season has done little to lift enthusiasm, with few standout results emerging. Though the market rallied briefly following the recent India-Pakistan ceasefire, Mookim expects volatility to persist, fuelled by shifts in US trade policy and potential new trade deals.

With GDP growth normalising...