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The Economic Times
The Economic Times
Rounak Khare

Nifty can rally to 28,615 by this December in Axis’ bull case scenario. Here’s why

Axis Nifty Axis Direct Donald Trump

Domestic brokerage firm Axis Direct expects Nifty to reach 28,615 by December this year in a bull case scenario, based on a 20.5x valuation. A revival in domestic private capex, backed by policy continuity, improving business confidence, political stability, fiscal discipline and a rural recovery, is expected to drive growth. Markets are also closely watching the global outlook under U.S. President Donald Trump, with tariff-related uncertainties expected to ease in 2026.

With Nifty earnings expected to sustain a 13%+ CAGR over FY23–28, this backdrop could attract fresh capital inflows into Indian markets and support a re-rating of valuations, strengthening the equity outlook.

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