Indian equity markets show remarkable resilience amid geopolitical tensions and crude oil volatility. Market expert Nischal Maheshwari advises a buy-on-dips strategy, suggesting investors believe Iran-US tensions will be resolved. He recommends rotating away from upstream oil producers toward refining and marketing companies positioned to benefit from stabilized crude prices. In banking, Maheshwari suggests taking profits from State Bank of India after strong recent performance and shifting to private sector lenders like HDFC Bank and ICICI Bank, which offer attractive valuations at historically low price-to-book multiples. He remains cautious on passenger vehicle stocks after their recent rally, noting GST benefits appear priced in. Commercial vehicles present better opportunities as their cycle strengthens steadily.
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