Nifty target raised to 28,000 from 26,000, says Citi; here's why
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Citi raised the Nifty target to 28,000 from 26,000.
- ✓The brokerage expects earnings to grow by 15-16 per cent through FY28.
- ✓Lower oil prices and strong domestic flows helped this outlook.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Today
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Citi expects Nifty earnings to grow at a compounded annual rate of 15-16 per cent over FY26-FY28, with September quarter results sustaining the momentum seen in the June quarter, Bloomberg reported, citing the foreign brokerage.
Lower crude prices could support both the macroeconomic backdrop and corporate earnings. A $10 decline in oil prices improves the current account deficit by 30-40 basis points (bps), lowers inflation by about 50 bps and boosts Nifty earnings per share (EPS) by about 2 per cent, Citi said.
It has extended its forward estimates to December 2027 from September 2027 and raised the multiple for India's equity benchmark to 18 times from 17 times.
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.
Business Today
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.