Expert view, July 17 -- Srinivas Rao Ravuri, Chief Investment Officer (CIO), Bajaj Life, is optimistic about the Indian stock market, as he believes the domestic market may deliver healthy double-digit returns over the medium term. In an interview with Mint, Ravuri pointed out that the stock market typically looks beyond near-term uncertainties and responds positively to improving fundamentals well before they become evident in reported earnings. Edited excerpts:

The Nifty 50's muted performance over the past two years reflects a phase of consolidation rather than a structural change in the market's trajectory.

Earnings growth moderated to single digits during FY25 and FY26, while heightened geopolitical uncertainties and a global prefe...