Nomura predicts 13% rise in Nifty by 2026, sets target at 29,300

Nomura forecasts a 13% rise in the Nifty to 29,300 in 2026, driven by stable macros and cyclical recovery in earnings growth. The brokerage also highlights its top picks, including ICICI Bank, Infosys, and Bajaj Finance, and notes that the valuation premium is now aligned with historical averages. Nomura does not anticipate a surge in foreign portfolio inflows but sees potential for improvement in 2026.