Macquarie Capital: Nifty targets 30,000 by 2026 amid earnings rebound

• Macquarie Capital projects Nifty to reach 30,000 by 2026, driven by a strong earnings recovery.
• The firm's outlook shifted from cautious to optimistic, anticipating mid-teens EPS growth in FY27 and FY28 after a period of low growth.
• Financials and IT sectors are expected to drive this recovery, attracting foreign institutional investors.
• Despite high valuations, returning foreign capital and resilient domestic liquidity may lead to further multiple expansion.
• Macquarie favors select EMS companies and large private banks (HDFC, ICICI), with less preference for PSU banks; notes IPOs often involve promoters cashing out.

Why It Matters: Macquarie predicts Nifty 30,000 by 2026, signaling major investment potential.