How is 2026 shaping up for Indian investors? Gurmeet Chadha shares his asset class view

As the global macroeconomic landscape continues to change, investors may look to rebalance portfolios for the coming year. From equities to precious metals and bonds, the asset allocation strategy for 2026 is already taking shape.

Gurmeet Chadha, Managing Partner and Chief Investment Officer, Senior Portfolio Manager at Complete Circle Consultants shares a snapshot of how he expects various asset classes to perform, based on recent interactions with investors and promoters.

Chadha’s insights come at a time when multiple triggers ranging from domestic policy actions to global developments are likely to influence market sentiment. Their views provide a nuanced view on where opportunities and areas of caution lie, helping investors align their strategies across Indian and global equities, bonds and commodities.

Indian Equity: A Constructive Setup

According to Chadha, Indian equities could be in a better position in 2026, especially on the back of interest rate cuts and tax reforms. He notes that markets generally respond well to such structural moves, albeit lagging behind.

“The valuation has shown improvement in both cost and timing, making the setup for 2026 relatively constructive,” he said. Key triggers he identified include the EU-India Free Trade Agreement, the Union Budget and corporate earnings.

Precious metals: Advice to be cautious in silver

Chadha advises caution in the precious metals segment, particularly with silver. He suggests that investors maintain a balanced exposure, recommending a combined 5-10% allocation to gold and silver.

“Be careful, especially on silver. Don’t go overboard,” he commented, pointing to the growing volatility in the space.

Global Equities and AI Trading: Moderation Ahead

On the global equity front, Chadha expects a healthier outlook in 2026. They believe that the AI ​​trade, which has seen significant momentum in recent months, may witness some profit-taking or moderation going forward.

Bonds: Longer duration may outperform

Chadha sees potential in long-dated bonds, noting that some volatility can be offset by structural triggers. He highlights India’s possible inclusion in global bond indices on January 14 (which he believes is a high probability) as a key catalyst, with relatively better fiscal health.

(Disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. These do not represent the views of Economic Times)