Archive · 2 Jun 2025
Nomura: India's GDP Growth to Moderate, Nifty Target Raised
Imagine India's economy growing, but maybe a little slower next year.
Experts at Nomura think it will grow, but not as fast as before.
The stock market might still do well because people are buying things and investing in India.
Some experts think stocks are a little expensive right now, but still see India doing well over time.
They suggest focusing on companies that do business inside India rather than those that sell things to other countries.
Nomura projects India's GDP growth to slow to 6.2% in FY26.
Real GDP growth fell to 6.5% in FY25, compared to 9.2% in FY24.
Nomura raised its Nifty target for March 2026 to 26,140 points.
Equity market valuations appear "full" in the near term, according to Bofa Securities.
Nomura prefers domestic-focused sectors over exporters.
- Who
- Nomura
- What
- Projected slowdown in India's GDP growth
- When
- FY26
- Where
- India
- Why
- Due to a growing 'divergence' between GST collection growth and high-frequency economic indicators
Global Economic Uncertainty
Domestic Market Strength
Market Outlook
Global Economic Uncertainty
Cautious near-term market valuation, due to global uncertainties.
Domestic Market Strength
Resilient Indian equity markets supported by positive domestic factors.
- FY25 GDP Growth
- 6.5%
- Projected FY26 GDP Growth
- 6.2%
- Nomura Nifty Target (March 2026)
- 26,140 points
Sources
Growing pains: On economic performance, Viksit Bharat
Is India the world’s fourth largest economy?
Stock market opening: Will Sensex, Nifty rally today after GDP numbers?
Double cheer continues for India Inc in Q4 profit growth
Manufacturing PMI slows down to a three-month low in May at 57.6
India's top PSUs record robust profit growth, govt's fiscal position to get stronger
India's manufacturing sector growth falls to three-month low in May
India's manufacturing growth slows to 3-month low in May: PMI
India's manufacturing growth slows down to three month low in May, but hiring hits record high
China’s growth to hit 4% in 2025 as economic headwinds mount: SBI Research
India’s growth engines are firing, but stock pickers need caution: Pankaj Tibrewal
Improved corporate strength signals India’s fast track to third largest economy: Kaku Nakhate
CPI inflation may dip below 3% in Q1 on strong monsoon, soft crude: SBI report
India likely to become a $30 trillion economy by 2047, says Amitabh Kant
Rural consumption to drive India's GDP growth this fiscal year, economists say
