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SBI Securities CEO expects Nifty 50 to hit new highs by end-2026
The call is tied to projected double digit earnings growth and strong domestic flows, including SIP inflows and FCNR bank deposits that help ease USDINR pressure.
LiveMint Markets reports that Baldev Prakash, MD and CEO of SBI Securities, expects India’s Nifty 50 index to reach a new high by the end of 2026.
In an interview, he linked the outlook to several factors, including likely double digit earnings growth for Indian corporates over FY26 to FY28, supported by comfortable valuations after a 21 month consolidation period.
He also cited domestic demand indicators such as robust auto sales and healthy demand across sectors including hotels, jewellery, and food and beverages, along with strong inflows through the SIP route that have been able to absorb selling pressure from foreign institutional investors.
Prakash added that inflows of bank deposits through the FCNR route have alleviated pressure on USDINR, and he expects a recovery in heavyweight sectors like banking and IT during 2026, with Nifty 50 scaling new highs toward year end.