BofA turns bullish on India, sets Nifty target at 26,200
In short
BofA Securities has turned positive on Indian stocks after almost two years and set a Nifty target of 26,200.
It said earnings are improving and valuations look attractive. The report also says foreign outflows are being driven by the global AI theme, but the exact pace of earnings growth and RBI moves is still uncertain.
What the reporting says
BofA Securities turned positive on Indian equities after nearly two years and set a Nifty target of 26,200, citing improving earnings and attractive valuations. The publisher summary also says Arbind Maheswari linked foreign outflows more to the global AI investment theme than to India’s economy, and expects another 100 basis points of RBI rate hikes. The near-term market implication is a more bullish stance, while the actual pace of earnings improvement remains uncertain.
Why it matters
BofA Securities shifted to a bullish view on Indian equities and set a Nifty target of 26,200, citing better earnings and valuations. The summary also says Arbind Maheswari expects another 100 basis points of RBI hikes and sees foreign outflows as tied more to the global AI theme than India’s economy. The market impact is supportive for Indian stocks if earnings improve as expected.