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Indian Equities: Nifty Eyes 29,000 by 2026
22 Dec
Summary
- Nifty expected to reach 29,000 by December 2026.
- Earnings growth forecast at 15% for Nifty in 2026.
- Consumption and financials are top sector bets for 2026.
Indian equities are anticipated to experience a significant upswing in 2026, with projections indicating the Nifty index could reach the 29,000 mark. This follows a period where Indian markets underperformed emerging market peers in 2025, but valuations have now normalized, setting the stage for recovery.
Strong earnings growth is a primary driver of this optimism. Nifty earnings are forecasted to grow by an average of 15% in 2026, a notable increase from the high single-digit growth seen in the previous year. This broad-based growth is expected across sectors like banking, autos, power, cement, and telecom.
Key investment themes for 2026 include consumption, driven by government initiatives and increased disposable incomes, along with domestic cyclicals such as hospitality and real estate. Financials and industrials are also identified as potential growth areas, although sectors exposed to external risks like IT may face headwinds.
