Kotak Securities, in its Market Outlook 2026 report, has pegged the base-case Nifty 50 target at 29,120 by December 2026, anchored by expectations of robust earnings growth over the next three financial years. The brokerage anticipates Nifty profits to rise 8.2 per cent in FY26, 17.6 per cent in FY27 and 14.8 per cent in FY28. In alternative scenarios, Kotak places the bull-case target at 32,032 and the bear-case target at 26,208.

With FPI outflows persisting, domestic investor sentiment is likely to play a crucial role in determining the market’s direction in the near term, it added.

Earnings performance surpasses expectations in Q2FY26

Kotak Securities noted that Q2FY26 earnings came in ahead of estimates, with adjusted net profits of the Nifty-50 Index increasing 2.6 per cent year-

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