Citi sees Nifty at 26,000 on better valuations; stays cautious on IT services
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Citi expects the Nifty to reach 26,000 as earnings remain resilient and valuations become more reasonable.
- ✓Surendra Goyal said, "Citi continues to expect the Nifty to reach 26,000." While the firm stays cautious on IT services due to structural challenges, it continues to favor private sector banks and healthcare stocks.
Story at a Glance
- Category
- MARKET
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
India's equity markets are well placed for further gains as earnings remain resilient and valuations have become more reasonable, even as global investors reassess the artificial intelligence (AI) trade, according to Surendra Goyal, India Head of Research at Citi.
Goyal said Citi continues to expect the Nifty to reach 26,000, supported by mid-teen earnings growth and lower market valuations. While India could benefit if the AI-driven rally moderates globally, he cautioned that the brokerage remains selective on sectors, particularly IT services, where structural challenges persist.
Goyal noted that corporate earnings have remained stronger than expected. He said consensus forecasts continue to point to mid-teen earnings before interest, taxes, depreciation, and amortisation (EBITDA) and earnings growth for both the current and next financial year.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
CNBC TV18
Read the full, original unfiltered story directly on the publisher's portal.