Nifty is expected to reach 28,781 level within 12 months, will give the growth of the domestic sector: Report

New -delhi, October 14 (IANS). Nifty market measure can reach the level of 28,781 points within about 12 months. The Indian economy and the stock market remain in a strong position despite global challenges such as US rates, H-1B visa money increase and geopolitical instability, according to a report on Tuesday. PL Capital estimates a compound annual growth rate of 12.1 percent for Nifty from FY2025 to FY2027, with domestic sectors such as banks, car and metals playing a key role in growth of growth. According to the broker, the conditions are now favorable for a strong recovery in consumption with normal monsoon, 100 basis points reduced in interest rates, GST rate cuts and tax cuts announced in the FY26 budget. The broker says that cement, metal, oil and gas are the sectors that will play a leading role in the earnings of FY 2026. The report said that India’s GDP growth in Q1FY26 confirmed the strength of the economy, exceeding expectations at 7.8 percent, compared to 6.5 percent in Q1FY25 and 7.4 percent in Q4FY25. High-frequency indicators such as GST collections, e-way accounts, services and credit growth indicate strong underlying domestic demand. PL Capital estimated that the recovery in demand is likely to increase the use of the capacity of the private sector and private capital expenditure, which has come to a standstill for a long time. The firm said the export of India’s services is entering a new growth phase led by digital, high -value knowledge services. “By 2030, the country is expected to have about 2,200 global capacity centers (GCCs), which will make revenue of more than $ 100 billion and total service exports are expected to amount to $ 500 billion,” the firm said. It is further said that the talent landscape is developing rapidly and that demand is increasing in areas such as AI, cyber security, Genai product engineering and sustainability analysis, which strengthens the position of India as a global innovation center. -—IANS SKT/