According to a recent report by Motilal Oswal Financial Services, Indian equities appear in a stronger position compared with last year, as the corporate earnings cycle shows signs of bottoming out. The firm cited Q2 FY26 results that largely met expectations and suggested that valuations are reasonable, with the Nifty 50 trading around its long-term average multiple. Reform momentum and improving macro variables were also highlighted as supportive drivers of investor sentiment going forward.