Nifty may see double-digit gains by 2026: Manish Sonthalia

«Nifty 50 is broadly going to traverse something like 10% to 12% EPS growth. So, from here, 22,000 to expect 24,500 to 25,000 between December 25 and March 26 is certainly not out of place. So, from that point of view, a 10% to 12% Nifty gain is purely doable,» says Manish Sonthalia, Emkay Investment Managers.

So, tell us a sum and summary. With so much of analysis you have done, tell us three stocks to buy. We will keep it very simple. You give me three stocks, one question and then I will let you go to a meeting.
Manish Sonthalia: So, stock recommendations not doable because of regulations but look we have priced in most of the negative, that is one and whatever micro details you need to know about India is already known in public domain. There is nothing new to analyse just yet as things stand. We do not know all the information regarding tariffs, etc.

But if we were to take a broad macro call, US dollar is likely to depreciate going forward. You are already seeing the ramifications of that in commodity prices and gold and silver prices.
Also, it is likely that you will see an appreciation of the Japanese yen or the euro and that is also going to bode well for the emerging market as a whole and India is a part of the emerging market basket.
So, from that point of view, I would tend to believe that given that FY26 earnings are going to be better, we have priced in, we have fallen from 26,000 to 20,000.

Live Events

There is not too much of negatives from here and that is how I would look at it. Secondly, I