Citi has lowered its December 2026 Nifty target to 27,000 from 28,500, paring it by about 5% as it factors in growing downside risks to earnings and the broader macro backdrop. The brokerage has also cut its one‑year forward valuation pointing to elevated oil prices, potential supply‑side disruptions across commodities, and the knock‑on effects on inflation, growth, and fiscal dynamics amid an increasingly uncertain geopolitical environment.
