Kotak Securities sees Nifty at 29,120 by 2026; bull case 32,032

• Kotak Securities projects Nifty to reach 29,120 by December 2026 (base case) and 32,032 (bull case).
• The positive outlook is driven by reasonable earnings valuations, supportive macros, and mixed but not negative global conditions.
• BFSI, IT, Healthcare, and Hospitality are identified as potential outperforming sectors, with BFSI and IT expected to lead.
• Domestic investors are seen as a structural support for Indian markets, absorbing FPI selling and large block sales.
• Corporate earnings are expected to improve, with 8% growth in FY26, 17% in FY27, and 15% in FY28.

Why It Matters: It provides a bullish Nifty forecast and highlights promising investment sectors.