Emkay targets Nifty 29,000 by Dec 2026 on demand, RBI, India-US trade deal hopes

• Emkay Global projects Nifty to reach 29,000 by December 2026.
• Projection based on likely discretionary consumption pick-up, RBI liquidity support, and an anticipated India-US trade agreement.
• Additional drivers include GST reforms, improved affordability, normal monsoon, and potential FY26 tax cuts.
• Emkay is Overweight on Discretionary, Industrials, Healthcare, and Materials; Underweight on Financials, Staples, IT, and Telecom.
• Equity benchmarks (Sensex, Nifty) hit record highs on Dec 1, 2025, following 8.2% Q3 economic growth.

Why It Matters: This predicts significant Nifty growth, impacting future investment returns.