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02 Dec 2025
Nomura, a leading brokerage firm, has predicted that the Indian Nifty index will touch the 29,300 level by 2026, marking a growth of about 12 percent from its current level.
The forecast is based on several factors, including ease in global geopolitics, resilient domestic macro indicators, and a cyclical earnings recovery.
The Indian stock market has been performing strongly in recent times, with the Nifty 50 and Sensex recording gains of 4.5 percent and 4.6 percent respectively in October.
This sharp turnaround was fueled by multiple domestic triggers, including the GST 2.0 rate rationalisation, a surge in manufacturing activity, and the return of foreign institutional investors.
Nomura expects a rebound to low double-digit growth in FY26, aided by a favourable base and a rebound across commodity-linked sectors such as chemicals, oil and gas, cement, and metals.
However, the firm cautions that consensus forecasts for FY27 and FY28 may be subject to some modest downward revisions in case the capex cycle loses steam or if India's trade deficit stays persistently high.
India's financial markets are heading into 2026 with renewed confidence, riding on the back of a decisive rebound in October and a macroeconomic environment that continues to demonstrate resilience despite global uncertainties.
This sharp turnaround was fueled by multiple domestic triggers, including the GST 2.0 rate rationalisation, a surge in manufacturing activity, and the return of foreign institutional investors.
