New Delhi, June 17 -- India's benchmark Nifty 50 index is inching closer to the reclaim psychologically important 25,000 mark, buoyed by strong domestic liquidity, policy optimism, and improving macro indicators. After rising nearly 5 percent in 2025 so far, the index continues to attract investor attention even amid global uncertainties. However, the question remains: is this optimism supported by underlying earnings growth?

In a recent report, brokerage house InCred Equities pointed out that while high-frequency macro data shows a mixed picture for both domestic and export-oriented sectors, recent government policies have rekindled optimism for a broader economic revival. Factors like a stronger-than-expected monsoon, easing fuel price...