New Delhi, Oct. 19 -- The Indian stock market has been volatile over the last year, with the market benchmark Nifty 50 hovering around the psychological 25,000 mark for most of the trading year, largely due to external factors such as geopolitical tensions, tariff wars and regime changes in key global economies.

Domestic macroeconomic indicators, however, have seen significant improvement, be it the lower inflation, contained fiscal deficit, healthy GDP growth rate and downward sloping interest rate cycle (down 100 bps in CY25) along with RBI's focus on adequate systemic liquidity.

According to Pankaj Pandey, the head of research at ICICI Securities, the key near-term triggers for the Indian stock market are the real demand growth acros...