India's benchmark Nifty index could climb to 28,000 by December 2027, translating into an estimated upside of approximately 12 per cent from current levels, as corporate earnings improve, crude oil prices ease and global investment trends potentially turn more favourable for Indian equities, according to a report by Citi. The international brokerage has upgraded its Nifty target to 28,000 from its earlier projection of 26,000. Alongside the higher index target, Citi has increased its valuation multiple assumption to 18 times from 17 times and pushed its investment horizon to December 2027 from September 2027.
\n\nThe revised outlook reflects a combination of domestic and global factors that could strengthen India's equity market performance over the coming quarters. These include the prospect of sustained corporate earnings growth, relatively favourable oil prices and a possible reallocation of foreign investment towards markets beyond the artificial intelligence (AI) theme.
\n\nCiti Raises Nifty Target As Earnings Outlook Improves
\n\nA key factor supporting Citi's bullish assessment is the anticipated improvement in corporate profitability. The brokerage expects Indian companies to deliver annual earnings growth of approximately 15 per cent between FY26 and FY28.
\n\nAccording to the report, earnings performance in the September quarter remained encouraging, extending the positive…
Original source: https://www.timesnownews.com/business-economy
