As Indian equities close out a historic ninth consecutive year of positive returns in 2024, the focus shifts to what lies ahead for investors in 2025. With most sectoral indices, led by the Nifty Pharma, delivering positive returns in 2024, the question beckons – what will be the preferred investment theme in the new year?

A recent CNBC-TV18 Outlook 2025 poll, conducted with 61 fund managers, high-net-worth individuals (HNIs), and market dealers, offers valuable insights into investor sentiment and sector preferences for the coming year.

The poll reveals that 33.9% of respondents believe the financial sector will dominate the market in 2025, despite ongoing macroeconomic challenges. Many experts are confident in the sector’s long-term growth potential, signalling a strong outlook for financial stocks.

Trailing financials, 16.1% of respondents have placed their bets on technology, underscoring the sector’s resilience and innovation-driven growth. The pharmaceutical industry also stands out, with 12.9% of the survey participants identifying it as a promising area for investment in 2025.

On the flip side, the capital goods sector—an outperformer in 2024—appears to have lost some of its appeal, with only 9.7% of respondents seeing significant growth potential here for the upcoming year.

With financials at the forefront and technology and pharma emerging as strong contenders, 2025 is shaping up to be an exciting year for Indian equities.

While past performance has been stellar, these survey results suggest that evolving market dynamics and sector-specific trends will continue to influence investor strategies in the year ahead.