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India market retains appeal vs China; Sensex forecast at 94,000 by end‑2026: HSBC
HSBC upgrades India to overweight, sees Sensex at 94,000 by end‑2026, citing strong earnings and cheaper valuations than China.
Global investment bank HSBC raised its outlook on India’s equity market to 'overweight', citing improving earnings visibility and relatively attractive valuations versus Chinese stocks.
HSBC projects India’s benchmark BSE Sensex to reach 94,000 by end‑2026 - a gain of ~13% from current levels. It expects ~15% earnings-per-share growth for Indian companies in 2026 and sees room for incremental foreign inflows.
Headwinds include U.S. tariffs on exports and global growth risks.