BusinessPhoto: News18 BusinessCiti Raises Nifty Target to 28,000 by December 2027 on Earnings Optimism
Global brokerage Citi expects the Nifty to reach 28,000 by December 2027, up nearly 12% from current levels. The upward revision from 26,000 is driven by stronger corporate earnings, easing crude oil prices, and moderated AI-related spending. Citi forecasts around 15% annual earnings growth between FY26 and FY28, with a valuation multiple raised to 18 times. Positive earnings momentum continued despite high commodity prices.
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