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Nomura sees Nifty at 24,970 by March 2026

Business Standard

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April 22, 2025

Nomura has revised its Nifty target to 24,970 for March 2026, up from its earlier target of 23,784 for December 2025.

- SUNDAR SETHURAMAN

Nomura sees Nifty at 24,970 by March 2026

The brokerage expects the Nifty to trade at 19.5 times its estimated earnings of ₹1,280 for FY27, compared with an earlier multiple of 18.5 times.

Nomura projects the Nifty to trade within a 17-20 times valuation range, offering potential returns of minus 9 per cent to plus 7 per cent over the next 12 months.

The Nifty ended at 24,126, having rebounded over 10 per cent from this month's lows.

A stable risk environment could revive foreign portfolio investor inflows after six months of sustained selling, the brokerage believes.

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