Expert view, June 3 -- Pankaj Pandey, the head of research at ICICI Securities, remains constructive on Indian equities from a medium to long-term perspective. Pandey highlighted that the Nifty 50 is currently trading at nearly 17 times price-to-earnings (P/E) on a two-year forward basis, which is below its long-term average of nearly 18.2 times, providing a favourable entry point for investors with a medium to long-term investment horizon. In an interview with Mint, Pandey also shared his views on the sectors he is positive about, and quarterly earnings of India Inc. Edited excerpts:

Elevated crude oil prices are certainly a macro headwind for India, given that we import the bulk of our crude oil requirement, with the likely impact bein...