Analysts at Morgan Stanley have updated their outlook for the Indian markets, and they now expect the Sensex to hit the 107,000 mark by December 2026 in a bull-case scenario, translating into an upside of 26 per cent from current levels.
The Adani group, which operates across multiple infrastructure sectors, with 12 listed entities in India and a combined market capitalisation of about $200 billion, remains "anchored by strong assets and robust cash flows", according to a Bank of America (BofA) report.
UBS has turned bullish on emerging markets (EM), including India, as it finds benign macro trends, positive momentum in earnings revisions, and resilient EM currencies helping these economies sustain higher valuations and attracting flows. Among regions, it has upgraded Mainland China to 'attractive' and China Tech to 'most attractive', while downgrading Philippines to 'neutral'.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
'The primary market's rhythm mirrors investor confidence. While sentiment may appear cautious, it reflects maturity, not weakness.'
'Defence, capital goods, engineering, capital market-related stocks, autos, and cement sectors are my bullish bets for Samvat 2082.'
'The pace of gold's ascent is striking, with prices rising from $3,500/oz to $4,000/oz in just 36 days -- far quicker than the historical average of 1,036 days taken to achieve similar $500/oz gains.'
The strong domestic flow offset selling by foreign portfolio investors who pulled out $23.3 billion (Rs 2.03 trillion) from domestic equity markets in CY25.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
'For most investors, I recommend a low double-digit allocation (10 to 12 per cent) to gold and silver combined.'
India's mergers and acquisitions (M&A) activity cooled in the second quarter of 2025-26 (Q2FY26), with deal value falling to $26.26 billion from $29.04 billion a year ago, according to Bloomberg data.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
As the rally in precious metals takes centre stage in 2025, most analysts recommend a larger allocation to gold over silver despite the latter's outperformance this year. In the current calendar year (CY25), spot gold prices in dollar terms rallied
Goldman Sachs is bullish about Indian aerospace and defence, preferring private companies over public sector units (PSUs) as the country ramps up its export target for the sector to Rs 50,000 crore by FY29 from Rs 23,600 crore last year. The American investment bank's top 'buy' recommendations include Solar Industries, Bharat Electronics, Data Patterns and PTC Industries, while Bharat Dynamics is rated 'sell'.
'The world is heading into a period of serious problems, and gold and silver are among the few ways to protect oneself.'
'Indian markets may underperform global peers for the next two quarters.' 'But beyond that, India should catch up and resume its long-term growth path.'
Silver prices are up 59.3 per cent in 2025, hitting nearly $44.55 an ounce (oz) in international markets and Rs 137,040 per kilogram (kg) in India on Thursday. It's the best return the metal has given since 2016.
'A price of $6,600/oz is now a reasonable target for gold.'
'I expect IT stocks to trade lower for some time. They are unlikely to make money for investors.'
'If nominal growth improves and earnings pick up, Indian stock markets could see a rally next year.'
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