Nifty valuations near post-Covid lows. Alchemy Capital’s Alok Agarwal explains what investors should buy now

Indian equities are entering a phase in which valuation levels and earnings growth are becoming central to the investment debate. Alchemy Capital Deputy Chief Investment Officer Alok Agarwal has outlined the sectors and market segments he sees offering opportunities as valuations reset.

Valuations move closer to post-Covid lows

The available material describes Nifty valuations as being near post-Covid lows. That shift provides the backdrop for Agarwal’s assessment of where investors may find value. The source does not provide a specific valuation figure or identify the exact level at which the index is trading.

Earnings growth broadens

Agarwal’s view also focuses on the broadening of earnings growth. In this context, the opportunity is linked not only to lower or more measured valuations, but also to the spread of earnings expansion across sectors and market segments.

What investors should note

The central message is that a valuation reset can change the relative appeal of different parts of the market. Agarwal has identified sectors and segments he considers promising, although the supplied information does not name those areas or provide individual investment recommendations.

For investors, the comments point to a market-selection approach based on valuation and earnings prospects rather than a broad-based call on every part of the Nifty. Further details would be needed to assess the specific opportunities highlighted by Alchemy Capital.