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India offers value over China — HSBC targets Sensex at 94,000 by end‑2026
HSBC upgrades India to ‘overweight’, forecasts Sensex at 94,000 by end‑2026 citing faster earnings growth and better valuation vs China.
According to a new report from HSBC Holdings released on 9 November 2025, India’s equity market now offers better value compared with Chinese peers.
The bank has upgraded its India stance to ‘overweight’ and forecasts earnings per share growth of ~15% in 2026. It sees the BSE Sensex climbing to 94,000 by the end of that year, driven by improved earnings visibility and lower downgrade risk.
The report underscores growing investor interest in India as a global growth engine.