The Indian stock market remains in a narrow range. Largecap companies are driving current performance. This cycle favors specific stock picking over broad rallies. Pharma, IT, and FMCG sectors show potential. Rural demand is reviving for FMCG. IT valuations are at multi-year lows. Pharma offers a secure investment. Largecap outperformance may continue into 2025. Investors should focus on earnings stability.