Indian shares lag global markets in January, underperform over 12 months: Motilal Oswal

Indian equities underperformed global markets in January, with Nifty 50 slipping 0.6% amid weak institutional flows and tepid earnings. Budget FY26 shifts focus to consumption over capex. Motilal Oswal favors large-cap stocks in BFSI, IT, and consumption sectors. Top picks include ICICI Bank, Maruti Suzuki, and Titan.