Financials are expected to continue to perform well if the economy and markets do well, according to Mihir Vora, CIO & Senior Director at Max Life Insurance. Financials are currently undervalued in comparison to pre-Covid levels, and the sector may have some steam left. Railways, defence and roads have seen increased capex, resulting in a commitment to privatisation and spending. With the pharma sector, Vora prefers domestic-oriented companies that offer established distribution and brands.