Motilal Oswal Wealth Backs Large Caps for 2026, Sees Opportunities in Defence, Power, Digital Infra

• Motilal Oswal Wealth recommends large-cap stocks for 2026, favoring stability over momentum in Indian equity markets.
• Key opportunities identified are in defense, power, and digital infrastructure, including data centers and electronic manufacturing.
• Large caps benefit from valuation reset, improved earnings visibility, and stronger balance sheets, positioning them for recovery.
• Indian equities have seen a correction, with MSCI India underperforming MSCI Emerging Markets, leading to a moderated valuation premium.
• Gold remains a strategic asset due to geopolitical uncertainty and central bank purchases, while silver shows structural repricing driven by supply deficit and industrial demand.