Kotak Securities sees Nifty at 26,100 by 2025-end

Mumbai: Kotak Securities has set a Nifty target of 26,100 levels by December 2025 and has suggested a 'cautiously optimistic' approach. The target implies an upside of 6% over the index's Tuesday closing level of 24,610.

The gross domestic product dropping to 5.4%, inflation moving above 6% in October, the Trump administration's policies and a stronger dollar are the reasons why the brokerage is cautiously optimistic. The firm prefers BFSI, IT, realty, and pharma & healthcare sectors and advised investors to moderate return expectations.

"The theme that we are saying here is that we should now look at value rather than momentum," said Shripal Shah, CEO of Kotak Securities. "I think we have had a great rally in mid-cap, small-cap and even large-caps."


The firm said gold and silver are expected to retain their strength in 2025, sustained by safe-haven demand and industrial needs, but a strong dollar and Trump's economic policies could temper gains.