With Nifty hovering around 24,000, many investors are asking whether the index can hold its ground. Independent market expert Daljeet Kohli has a clear answer: stop watching the index and start hunting for quality stocks at beaten-down prices.
Kohli argues that geopolitical uncertainty, while unsettling, is creating buying opportunities in specific pockets of the market. Sentiment-driven corrections in fundamentally strong companies, he says, are exactly where long-term wealth is built.
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On pharma, Kohli is particularly excited about the semaglutide (GLP-1) opportunity. With the molecule set to go off-patent in roughly 80 countries, including Brazil, Canada, and much of the MENA region, he recommends building a basket covering domestic generics players, international exporters, and API or pen-device suppliers to the space. He calls pharma a favourite sector for at least the next two to three quarters.
In pharma you can make a basket of three to four stocks, domestic generics, international exporters, and pen or API suppliers, and play the semaglutide opportunity across multiple angles.-Daljeet Kohli
In the power sector, Kohli sees a broad investment chain: gas generators, equipment manufacturers, cable companies, and power financiers all stand to benefit. On autos, he frames near-term margin pressure from higher input costs as a temporary and well-telegraphed headwind — a window to buy quality OEMs and ancillary companies 5–10% cheaper than their intrinsic value, given that demand fundamentals remain intact.
For banking, Kohli is cautious on large private and PSU banks until asset quality trends through a potential stress cycle. Instead, he favours mid-cap private lenders attracting foreign investor interest, microfinance companies where the cycle is turning, and housing finance NBFCs that have been slow movers for two years and may be due a re-rating.
On oil marketing companies, his stance is categorical: avoid. Regulatory interference, price controls, and the tendency for gains to be captured by the exchequer rather than shareholders make OMCs a structurally unattractive space for minority investors regardless of oil price direction.
The overarching message from Kohli is one of disciplined opportunism. Macro factors — geopolitical headlines, index levels, inflation prints — will keep shifting. Investors who stay agile, keep their eyes on company-level fundamentals, and use sentiment-driven dips to accumulate quality names at reasonable prices are best positioned for the one-to-two year horizon.
