This year, gold and silver outshone equity markets as foreign investors pulled out of Indian stocks amid high valuations and tepid earnings growth. The tables may somewhat turn in 2026 as experts bet on the return of overseas buyers and bullion to remain range-bound. Yet, uncertainty is expected to prevail for small- and mid-caps, and large-caps are most likely to continue outperforming, according to market participants. Also, the market regulator’s clampdown on futures and options to protect retail investors did yield some results this year. But the real picture will emerge only next year.

Source: Mint December 26, 2025 02:33 UTC