The Big Review 2026: Holistic view of global and domestic macro trends

• HDFC securities
• 10 Apr 2026

HDFC Securities Annual Strategy Report – The Big Review 2026 underscores that even amid rising global risks and geopolitical uncertainty, India’s macro fundamentals remain on a stable footing. Steady economic growth, easing inflation, and disciplined fiscal trends continue to support the broader outlook.

While earnings growth is expected to be moderate and market valuations have started to cool, HDFC Securities report believes markets may be approaching a potential bottom, paving the way for selective investment opportunities. Strong domestic liquidity and increasing retail investor participation remain key pillars of market resilience.

The Big Review 2026 offers a holistic view of global and domestic macro trends, sectoral prospects, and changing investor behaviour—essential insights for navigating the year ahead.

HDFC Securities MD & CEO Dhiraj Relli, Chief Research Officer – Equities, Varun Lohchab, Head of Institutional Equities, Unmesh Sharma and Head of Prime Research, Devarsh Vakil released the report in Mumbai.