New Delhi, May 19 -- Expert view on Indian stock market: Varun Lohchab, the head of institutional research at HDFC Securities, believes Nifty's returns will be commensurate with the earnings growth, which are expected to report a low teen CAGR for the next two years. He said India is well poised to grow in a structural manner driven by various long-term themes, including infrastructure, manufacturing, BFSI and consumer discretionary. In an interview with Mint, Lohchab also shared his expectations from the US Federal Reserve and how the US-China trade deal could impact the Indian stock market. Here are edited excerpts of the interview.

With the easing of geopolitical tensions, especially between India and Pakistan, along with normalising ...