New Delhi, Nov. 18 -- The Nifty 50 is inching closer to the 26,000 mark, but breaking past its all-time high remains elusive. With earnings growth still modest and valuations hovering in a cautious zone, the market appears to be in a holding pattern, awaiting stronger momentum, says Chakri Lokapriya, Chief Investment Officer, LGT Wealth India.

In this interview, we explore the key trends shaping Indian equities - from sectoral leaders and laggards to emerging opportunities in IT, financials, and gold - and what investors should watch over the next 12-18 months. Edited excerpts:

Despite approaching its all-time high, the Nifty 50 has struggled to break past the 26,000 mark. The primary reason? Earnings growth remains muted. In 2Q2026, ea...