创历史新高！印度股市重获华尔街青睐，哪些因素在助推？

Group 1: Market Performance - The Indian stock market indices Nifty 50 and Sensex reached historical highs on November 27, marking the first time in 14 months that both indices surpassed previous records set in September 2024 [3][4] - Nifty 50 index rose by 0.4% to 26,310.45 points, while Sensex increased by 0.5% to 86,055.86 points [3] Group 2: Driving Factors - Key factors driving the rebound include expectations of corporate earnings recovery, valuation corrections, supportive fiscal and monetary policies, and positive economic outlook for India [3][4] - The Indian economy is projected to grow nearly 7% in Q3 of this year and is expected to achieve an overall growth of 6.8% for the fiscal year ending March 2026 [3] - Optimism surrounding potential interest rate cuts by the Federal Reserve and the Reserve Bank of India has contributed to the market's upward momentum [3][4] Group 3: Earnings and Valuation - Recent corporate earnings reports indicate the strongest recovery in over a year, driven by benign inflation, tax cuts, and reduced borrowing costs, leading to a rebound in consumption [4][5] - The forward P/E ratio for the Nifty index is currently at 22.7, down from 23-25 range about 14 months ago, suggesting further upside potential for the Indian stock market [4][5] Group 4: Institutional Insights - Goldman Sachs has upgraded its rating on the Indian stock market to "overweight," citing four main reasons: policy support, earnings recovery, low foreign ownership, and defensive valuations [5][6] - The report indicates that foreign institutional investors have significantly reduced their holdings in Indian stocks, with net sales reaching a historical second-high [5][6] Group 5: Sector Outlook - Goldman Sachs favors sectors related to domestic themes, including financials, consumer goods, and defense, anticipating benefits from credit growth and consumption recovery [6][7] - JPMorgan also predicts a rise in the Nifty 50 index to 30,000 points by the end of 2026, driven by domestic demand growth and potential trade agreements with the U.S. [7][8]