Global brokerage HSBC on Wednesday, September 24, upgraded its rating on India to ‘overweight’ from ‘neutral’ earlier, setting a Sensex target of Rs 94,000 for 2026.

The brokerage believes that India's valuation is no longer a concern. Furthermore, government policies are also considered positive for the market.

US tariffs will have little impact on the profits of most listed companies, the brokerage said.

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Although foreign funds have withdrawn significant amounts from India in the last 12 months, a period in which the market has seriously underperformed, local investors have remained resilient, according to the report.

"While earnings growth expectations can fall a little further, valuations are no longer a concern, as the government policy is be

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