In smallcap, microcap space, there is scope for another 10-15% correction: Gaurav Dua

Largecaps offer better risk-reward amid FII selling and valuation correction; smallcaps may fall further.

Domestic-facing sectors like private banks, telecom, cement, and consumer discretionary are preferred over export-linked or commodity plays.

Liquidity boost and rate cut support financials; preference lies with top private banks and select NBFCs over most PSUs.

Earnings growth likely to stay muted in FY25 and taper in FY26–27; investors should lower return expectations.