JPMorgan expects the Nifty-50 index to reach 30,000 by the end of 2026, following the announcement of a trade deal between the United States and India.
According to Rajiv Batra of JPMorgan, the US administration has announced a reduction in the country-specific tariff on India to 18%. India has also agreed to reduce its tariffs and non-tariff barriers on US goods to zero, alongside increasing purchases of US goods and energy, signalling a marked improvement in bilateral trade relations.
The brokerage noted that tariffs under Section 232 on sectors such as automobiles, steel and aluminium remain unchanged. Despite this, sectors including textiles, gems, engineering goods, chemicals and leather are expected to benefit from the tariff reduction.
JPMorgan added that a comprehensive bilateral agreement could lead to increased foreign investment, a stronger rupee and improved earnings visibility for export-oriented sectors. Based on these factors, the brokerage reiterated its Nifty-50 index target of 30,000 by the end of 2026.
The Nifty-50 index was last seen closing at 25,088.40 on February 2, 2025.
Disclaimer: This article is based solely on brokerage commentary. The views expressed are those of JPMorgan and do not constitute investment advice or recommendations by the publication.
