Expert view, July 3 -- VK Vijayakumar, Chief Investment Strategist at Geojit Investments, finds a 7.5 per cent return of Nifty in the first half of calendar year 2025 (H1CY25) good amid elevated valuations and modest earnings growth. In an interview with Mint's Nishant Kumar, Vijayakumar underscored that an India-US trade deal may boost market sentiment, but a sustained rally in the market needs fundamental support in the form of improving earnings growth. He also shared his views on sectors he is positive about and his expectations from Q1FY26 results. Here are edited excerpts of the interview:

With a 7.5 per cent gain in the first half, the Nifty 50 has delivered decent returns.

Given the elevated valuations and modest earnings growth...