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Informist, Thursday, Nov. 20, 2025

 

By Gopika Balasubramanium

 

MUMBAI – India's headline indices are expected to test a new record high very soon, as sentiment is positive on both the global and domestic fronts, analysts said. Analysts have been expecting the indices to end 2025 at record highs, driven by expectations of an earnings recovery during Oct-Mar and the closure of the trade deal between India and the US. Analysts also noted that the valuations of the large-cap companies are fair, though some felt they were slightly elevated. 

 

"Sentiment continues to support long trades as long as the index remains above 26100," Rupak De, senior technical analyst at LKP Securities, said. "A drop below 26100 might trigger near-term weakness, with the index potentially falling towards 25900," he added. "On the other hand, if it sustains above 26160, it may recover towards 26300 and higher," De said.

 

Thursday, the Nifty 50 index rose as high as 26246.65 points during the day's trade but came off the highs to end 0.5% up at 26192.15 points. While the 50-stock index had reached similar levels towards the end of October, it could not sustain them. But this time, the 50-stock index not only closed above 26000 points for the second straight session, it also hit the highest level in 2025. In April, the index had slipped to its lowest level in 2025 at 21743.65 points. At present, the Nifty 50 is 20?ove its year's low.

 

HSBC, which is "overweight" on India, expects the country's benchmark BSE Sensex to reach 94,000 points by the end of 2026. Global brokerage said the Indian stocks offer value as compared to those traded in China. "We think India's valuations offer value vs Chinese equities," the broking firm said. The brokerage's expectations for earnings recovery echoed those of other brokerages. "Earnings are set to recover; banks' margins will expand in the coming quarters and consumer names, including autos, are set to benefit from GST (goods and services) reductions and lower interest rates," the broking firm said.

 

"The near-term outlook remains positive, though investors should stay cautious ahead of key US economic data that may create short-term volatility," Vinod Nair, head of research at Geojit Investments, said. The US labour department will not publish the October employment report and instead combine the non-farm payrolls for that month with November's report, reports said. Investors would closely track US economic data, especially ahead of the December meeting of the US Federal Open Market Committee, for insights on the interest rate trajectory. 

 

Edited by Saji George Titus

 

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