As the Nifty nears 26,000 again, Nilesh Shah, MD of Kotak Mahindra AMC, shared his views on market sentiment, global investor appetite, asset allocation and India’s overheated IPO pipeline on CNBC-TV18’s Editors Roundtable.

Shah believes the recent political outcome provides stability, but says the real focus now shifts to the India–US tariff deal, which could unlock foreign buying. During his recent visit to the US, he saw strong curiosity about India but little immediate deployment. “Everyone was interested in listening about India, but no one was willing to cut the cheque immediately,” he said. A tariff deal, he added, could act as a trigger.

For domestic investors, Shah reiterated the importance of balanced allocation. Reflecting the positioning in Kotak’s Multi Asset Allocation Fund

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