New Delhi, Nov. 3 -- Despite the recent correction in Indian equities, ICICI Securities remains constructive on the market, arguing that the selloff reflects external pressures rather than any meaningful deterioration in corporate earnings. With Q2 FY27 earnings showing strong growth, valuations slipping below their long-term averages, and the domestic earnings cycle gaining momentum, the brokerage believes the risk-reward equation is turning more favourable for investors.

It expects the Nifty 50 to deliver healthy double-digit returns over the next 12 months, with quality mid- and small-cap stocks offering opportunities as markets increasingly shift their focus from liquidity and valuations to earnings delivery.

The brokerage's Muhurat...