New Delhi, March 30 -- Dhiraj Relli, MD & CEO of HDFC Securities, believes the Indian stock market may outperform other global markets in the coming quarters. He expects the Indian economy to rebound strongly in the fourth quarter of the current financial year and for the next year. In an exclusive interview with Mint, HDFC Securities' CEO shares his views on sectors that may generate alpha and the potential impact of Donald Trump's tariff policies on sectors like IT and pharma. Here are edited excerpts of the interview:

FY25 is the first year of single-digit growth in Nifty earnings over the past five years, following an impressive compounded annual growth rate of over 20 per cent for the previous four years.

Strong flows from retail i...