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HomeMarket NewsICICI Securities says Nifty may touch 29,200 in 2026: A look at top stock picks
Nifty may hit 29200 as trade resolution boosts sentiment. BFSI, FMCG, healthcare, power, and technology lead gains. Top picks include Bank of India, Marico, UltraTech Cement, TCS, Sun Pharma.
Indian equity markets could see further upside, with the Nifty’s bullish case pegged at 29,200, supported by expectations of a favourable trade resolution acting as a key market catalyst, according to ICICI Securities market outlook notes.
ICICI Securities expect Banking, Financial Services and Insurance (BFSI) stocks to be among the key beneficiaries, aided by steady GDP growth and a potential revival in foreign institutional investor (FII) inflows.
Several defensive and rate-sensitive sectors, including FMCG, healthcare, power and technology, are seen as short-covering candidates, suggesting scope for sharp near-term gains as bearish positions unwind.
Meanwhile, auto, telecom and capital goods stocks continue to witness consistent accumulation by domestic institutional investors (DIIs), indicating confidence in India’s medium- to long-term growth prospects.
Top stock picks for 2026
ICICI Securities market outlook also highlights select long-term stock picks with defined targets and stop-loss levels:
Bank of India is seen rising to ₹180, with a stop loss at ₹115.
Marico has a target of ₹880, with downside protection at ₹638.
UltraTech Cement is projected to reach ₹14,500, with a stop loss of ₹9,970.
Tata Consultancy Services (TCS) carries a target of ₹3,775, with a stop loss at ₹2,840.
Sun Pharma is expected to move up to ₹2,180, with a stop loss of ₹1,540.
Overall, the ICICI Securities market outlook remains constructive, with analysts citing improving macroeconomic conditions, supportive institutional flows, and sector-specific triggers as key drivers for the next phase of market gains.
(Edited by : Srabastee Biswas, Anshul)
First Published:
Dec 18, 2025 1:46 PM
IST
