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N Jayakumar highlights the need to view the market differently due to the influx of younger, retail, aggressive investors. He suggests finding comfort in private sector banks, pharma stocks, OMCs, and power sectors. The market should shed historical baggage and focus on future potential. He said: "You need to learn from the past but you cannot ignore the present and therein lies the truth."

“We have been very constructive on pharma, not today, but on all your shows even for the last six to eight months and my personal feeling is that pharma is in an early stage of a three- to five-year bull market. Even today, if you look at it, the US generic space is being seen as a trading space.”

The retail investors in India, particularly those investing through SIPs, have played a significant role in driving the growth of the Indian markets. The retail SIPs have grown almost 10 times over the last six to seven years, aggregating almost Rs 16,000 crore a month, or about $2 billion. This trend, along with India's demographic advantage, steady demand, and digital transformation, has created a bullish construct for the Indian economy.

"As for elections, this is one place where I feel a change will not be seen positively. We need continuity. Numbers can vary. Some may even argue that a coalition with moderated numbers may be a better thing. I am not a political pundit. All I know is that many of these do not stand the test way beyond a couple of weeks. Unless something drastic happens, it will come and go; that too will pass."

"If people are focusing on export led sectors, we could have a move out of tech into pharma continuing. I think it has already begun. Strangely, the well-integrated consolidated metals and commodity players could also be in focus. Especially the well-integrated steel sector could be like a new pharma in a mini sense where the worst is taken care of."