Nifty FY27 earnings may be cut 2–3%, valuations better but not cheap: Gautam Duggad

Gautam Duggad of Motilal Oswal Financial Services said higher oil prices, a weaker rupee and rising input costs are weighing on margins. While market valuations are more attractive now, with the Nifty trading below 20 times forward earnings, they are not yet ‘screamingly cheap’. He also shared his top sectoral picks.