India's equity market is set to be positioned better in the emerging market category next year with expectations of recovery in corporate earnings and supportive macro trends, as per a Jefferies report.

It set a 2026 year-end target of 28,300 for the broader benchmark Nifty 50, implying about 10% upside from current levels and aligning with bullish views from HSBC, Citi, Nomura, PL Capital, Kotak Securities and Emkay Global.

The Nifty has risen 9.5% in 2025 so far, lagging Asian and broader EM peers on the back of subdued earnings over the last six quarters, record foreign outflows, higher US tariffs and elevated valuations.

In November, Nifty and Sensex reclaimed record highs post a 14-month period triggered by better Q3 earnings, a resilient Indian econmy, capital infliows and next-ge

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