Expert view, April 17 -- Jimeet Modi, Founder and CEO of SAMCO Group, doesn't think the Indian stock market will see a runaway rally in 2026, even though he believes the worst in terms of market volatility may be behind. He believes earnings may remain muted till Q1FY27.

"2026 may turn out to be more of a consolidation phase rather than a washout," Modi told Mint in an exclusive interview.

While the West Asian conflict has distorted India's near-term growth-inflation outlook, it does not, at this stage, derail the broader economic trajectory, Modi said.

India has had three genuine washout years in the last two decades: 2008, 2011, and 2015-16.

Each of them required the simultaneous failure of three conditions: first, a valuation reset...