Sorbh Gupta, a fund manager at Bajaj Finserv AMC, suggests that long-term investors should focus on creating a strong portfolio centered around consumption.

He believes that rural consumption will drive an increase in demand, supported by social spending from state governments and a favorable monsoon leading to a successful kharif harvest.

This will improve farm economics and boost consumption demand and earnings for consumer-focused businesses.

Gupta recommends investing in consumer staples, consumer durables, pharmaceuticals, and select large private banks within the current risk-reward framework.

He also mentions that the power sector is benefiting from global demand trends.

Although there are concerns about potential earnings risks in the December quarter following disappointing results in September, there is optimism for a recovery in the latter half of FY25.