Where are the Indian markets headed? Here’s a bull case Vs bear case scenario

Brokerages remain divided on India’s market outlook amid global uncertainties. Jefferies, ICICI Prudential AMC and 3P Investment Managers are positive on India, driven by improved valuations, limited earnings downside and supportive domestic flows. They highlight attractive Nifty valuations, favourable allocation signals and recent market correction as key reasons to increase exposure, with a preference for sectors like banks and pharma and a gradual approach to adding equities. On the other hand, Nomura, Goldman Sachs and UBS remain cautious, citing rising oil prices, weak foreign flows and global risks that could weigh on growth and market returns in the near term.