Top Market Themes for 2025: Capital Goods, Healthcare, and New Energy
In 2025, some top market themes to keep an eye on are Capital Goods, Healthcare, and New Energy, according to Amisha Vora, Chairperson & MD of PL Group. Vora noted that improvements in order inflows and government spending are expected to boost earnings outlook for the year. Additionally, valuations are expected to remain attractive, potentially attracting FIIs back to India.
Looking ahead, Vora mentioned that 2025 is likely to be a better year compared to the past due to a reduction in overall volatility and a potential rise in capital goods sectors. While there are some macro headwinds like a strengthening dollar index and potential Trump tariffs, Vora still anticipates a double-digit growth year for the Nifty index. However, she emphasized the importance of keeping an eye on earnings reports, as surprises are expected to be a couple of quarters away.
When discussing key themes for the coming year, Vora highlighted that sectors like tourism, healthcare, and new energy are expected to continue performing well due to their earnings and order visibility. In terms of market performance, Vora believes that 2025 will be a stock-specific year, where investors can find opportunities in both largecaps and midcaps as long as they choose sectors and stocks wisely.
While financials and financial ancillary sectors like banks, NBFCs, insurance, and capital market plays were not explicitly mentioned as top themes for 2025, Vora clarified that it is due to current valuations and not necessarily poor fundamentals. She emphasized that opportunities can still be found within these sectors for investors who do their research and select stocks carefully.
