New Delhi, April 6 -- Akhil Bhardwaj, Senior Partner and Founder at Alpha Capital, is positive about the Indian stock market, as he believes the worst is behind, even as higher crude oil prices remain a key risk. "Easing global tensions and steady domestic flows should provide support. We expect Nifty to retest 26,000 in the near term," he told Mint in an interview. Edited excerpts:

FY26 showed the risks of high valuations and too much dependence on global money flows.

Even though India's GDP growth remained steady at around 6.5-7%, corporate earnings fell short of expectations (Nifty EPS growth was only 6-8% instead of double digits).

This was mainly due to weak rural demand, pressure on IT margins, and global risk aversion.

Foreign ...