Domestic Brokerage House Axis Securities believes Indian stock market benchmark Nifty 50 has the potential to reach by March 2026 25,500, and this highlights India’s favorable long-term growth story, supported by rising CapeX, consumption and credit growth of the Union budget and GST 2.0 Reforms. They predict a 13% CAGR in Nifty earnings over FY23-27, with finance the biggest contributor. However, they have warned that uncertainty about trade policy, depreciation of the rupee and delayed revival of earnings remains in the short term. “The current level of India’s VIX is below the long-term average, suggesting that the market is currently in a neutral zone (not panic or exuberance). While the medium to long-term prospects for the total market remains positive, we can see in the short term volatility. to build. Nifty’s target: The base, bull and bear case -scenarios the base case, or the most likely or expected target of Nifty 50, is 25,500. “In our base case, we review our Mar’26 -nifty -Tecy to 25,500 by appreciating it at 20x on Mar’27 earnings. Broker said. In the Bull case values of Axis Securities on 21 times Nifty, which is translated into a March 2026 target of 26,800. “Our assumption of Bull Case is based on the Goldilocks scenario, which accepts an overall reduction in volatility and a successful soft landing in the US market. The market is watching the global growth scenario under Trump’s presidency in 2025. Furthermore Axis Nifty at 17 times, which arrives on a target of March 2026 of 21,600. In addition, we assume that inflation will continue to institute challenges in the developed world. The world market has not seen such an increased interest rate. Growth in the remaining part of FY26, ”says Axis. Rebound probably in October? Indian stock markets saw mixed trends in September 2025, after a four -month rally that cooled down in July and August. Axis Securities noted that although structural reforms such as GST rationalization initially increased the sentiment. such as “depreciation in the Indian currency, mixed trends in US policy, overhanging of stock due to GST cuts, FII selling and the revival of earnings that are still a quarter away” contributed to careful trade. -Sector increased, which emphasized Axis Securities as “the sector that has already struggled with growth further injured.” “Risk reward is slowly building up to mid and smallcaps. Nevertheless, recovery will be slow and gradual as we progress to FY26, led by strong expectations in earnings, domestic liquidity and stable Indian macros. We believe that the market has to go through a few months before we expect a concrete direction from the struggle of the year, we will expect in the near term, “” the broker said. Market strategy for October Axis Securities recommends that you focus on ‘growth at a fair price’ by investing in quality stocks, market leaders, monopolies and sectors focused locally. Their sector preferences include BFSI, telecommunications, consumption, hospitals, interest rate-spoken and selected capies-oriented plays, while retaining a cautious stance on export-oriented sectors due to tariff risks and macroeconomic uncertainties. “We continue to 1) such as and overweight BFSI, telecommunications, consumption, hospitals and interest rate proxies, 2) keep maintaining a positive view on retail consumption, 3) Prefer certain captex-oriented plays that look attractive at this point as a result of the recent price correction, as well as a reasonable growth in FY26, and 4) The execution of the sector due to the rate over the tariff and tariff and the valued stance on the execution of the sector due to the rate of tariff and the tariff and a daring stance on the sector’s execution to the sector. Top stock options for October, which reflect these insights, updated Axis Securities for October 2025, which added Mahanagar gas and added profits in Varun drinks. Other recommended shares include HDFC Bank, Bajaj Finance, Shriram Finance, Avenue Supermarts, State Bank of India, Lupine, Hero Motocorp, Max Healthcare, Kirlkar Brothers, Kalpataru Projects, APL Apollo Tubes, Bharti Airtel, Prestige Estates, and Sansera and Sansera. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.
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