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Nifty to cross 29,000 levels! Here’s what Nomura said about the index; check top picks for your portfolio – The Times of India
Nifty might be in for a roller coaster ride in 2026 as several projections have forecasted an upside of over 10% for the index. Nomura pegged the NSE benchmark Nifty at 29,300 for the next year, a level that signals almost 13% upside from Tuesday’s closing mark of 26,032.20, when the index slipped 144 points, or 0.6%.The brokerage also released its list of top picks: ICICI Bank, Infosys, Bajaj Finance, Mahindra & Mahindra, Axis Bank, Titan, Ultratech Cement, Godrej Consumer Products, LG Electronics, CG Power, Swiggy, Dr Reddy’s, Dixon Technologies, Alkem, Mahindra Finance, Sona Comstar, eClerx, Aditya Birla Real Estate and MedPlus.Nomura attributed its optimism to improving conditions at home and abroad. “A positive view on valuation is now underpinned by calmer geopolitics, stable macros, and a cyclical recovery in economic and corporate earnings growth,” the firm said in its client note cited by ET. It also highlighted that the Indian equity market has trailed most global markets for 14 months, bringing the valuation premium “aligned to historical averages.”The brokerage’s estimates come as other global institutions like Goldman Sachs and HSBC predict a bullish stance. The entities recently predicted gains of 12% and 10% in the Nifty and Sensex respectively in 2026.Even so, Nomura struck a cautious tone on overseas capital flows. It does not foresee a sharp increase in foreign portfolio investments, although it expects marginal improvement next year. “In case there is a moderation in global rally and AI trade, FII interest is likely to improve as valuation premium is now in line with the long-term average,” it said.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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Stocks to watch: Shares of firms like Infosys, ONGC, Pine Labs, JSW Steel, IndiGo, Tata Capital, and others will be in focus on Thursday’s trade
Stocks To Watch
Stocks to Watch on December 4: Markets saw a volatile session and settled marginally lower, extending the ongoing consolidation phase. Sentiment took a hit as the rupee weakened to a record low of 90.13 against the dollar, raising concerns over higher import costs and triggering FII outflows. Caution ahead of the MPC meeting and mixed global cues further weighed on investor mood.
During the session, the Nifty slipped below the key short-term support of the 20-DEMA near the 25,950 level, but a recovery in the final hour helped it reclaim this mark. Analysts advised investors to manage position sizes carefully and stay selective—preferring IT and pharma stocks for long trades, while looking at rate-sensitive sectors on dips.
Meanwhile, here are some of the top stocks to watch today:
ONGC:
The government has approved a one-year extension for Arun Singh as chairman of ONGC. His three-year term was set to end on December 6. Singh, who retired as chairman of Bharat Petroleum Corporation in 2022, was appointed to revive ONGC at a time when the company was facing years of declining output.
Reliance Industries:
Reliance Strategic Business Ventures, a wholly owned subsidiary of Reliance Industries, along with Surrey County Cricket Club, announced a partnership in the Oval Invincibles franchise in The Hundred. This follows a deal under which the two entities will hold 49 per cent and 51 per cent stakes, respectively, with ownership transferred from the England and Wales Cricket Board.
Infosys:
The IT major is witnessing rising client interest in India-based global capability centres (GCCs). Several new engagements are now beginning with proposals to set up GCCs before expanding into wider technology partnerships, a senior executive said on Wednesday. The company is also stepping up efforts to capture a larger share of the expanding GCC market.
Pine Labs:
The fintech firm reported a consolidated net profit of ₹5.97 crore in Q2 FY26, compared with a loss of ₹32.01 crore in Q2 FY25. Revenue from operations rose 17.82 per cent year-on-year to ₹649.9 crore from ₹551.57 crore.
Cipla:
In partnership with Stempeutics Research, Cipla announced its entry into orthobiologic medicine with the launch of Ciplostem—an allogeneic mesenchymal stromal cell (MSC) therapy for knee osteoarthritis.
JSW Steel:
Sajjan Jindal-led JSW Steel and JFE Steel Corporation will jointly own and operate the steel business of Bhushan Power and Steel Ltd (BPSL) under an equal partnership. The Japanese steelmaker will acquire a 50 per cent stake in the joint venture for ₹15,750 crore.
InterGlobe Aviation (IndiGo):
India’s largest airline has cancelled more than 300 flights over the past two days and delayed hundreds more as a growing pilot shortage disrupted operations following the implementation of new flight duty time limitation (FDTL) rules, aviation industry sources said.
RailTel Corporation of India:
The company informed exchanges that it has received a work order from the Mumbai Metropolitan Region Development Authority for a project worth ₹48.78 crore, excluding tax.
Indian Energy Exchange:
India’s leading electricity exchange recorded a monthly electricity traded volume (excluding TRAS) of 11,409 MU in November 2025, reflecting a 17.7 per cent year-on-year increase. A total of 4.74 lakh Renewable Energy Certificates were traded during the month.
Bank of Maharashtra:
The offer-for-sale (OFS) of the bank closed for subscription on Wednesday at a floor price of ₹54 per share. At this price, the government stands to raise about ₹2,492 crore by divesting its 6 per cent stake. Before the OFS, the government held 79.60 per cent in the bank. Post dilution to 73.6 per cent, the bank will meet the minimum public shareholding (MPS) norm of 25 per cent.
Tata Capital:
Sebi has passed a settlement order related to a suo motu settlement application filed by the company under the Sebi (Settlement Proceedings) Regulations, 2018. Tata Capital also said it has paid the settlement amount of ₹14,40,000.
Lemon Tree Hotels:
The company has signed a licence agreement for “Lemon Tree Hotel” at Pacific Mall, Jaipur. The property will be managed by Carnation Hotels Private Limited, a wholly owned subsidiary of Lemon Tree Hotels Limited.
Vintage Coffee and Beverages:
The company has launched 100 per cent pure instant coffee in India as part of its expansion into the fast-growing coffee and beverages market. Following the opening of the Vintage Coffee Café in Nerul, Navi Mumbai in September 2024, and the successful launch of two brands in the conventional roast and ground coffee segment on select e-commerce platforms, the instant coffee launch further strengthens its product portfolio and consumer reach.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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Traffic on Interstate 80 in San Pablo, California, US, on Wednesday, Nov. 26, 2025.
David Paul Morris | Bloomberg | Getty Images
President Donald Trump on Wednesday proposed big cuts to strict fuel economy standards for passenger cars enacted under the Biden administration.
“We are officially terminating Joe Biden’s ridiculously burdensome, horrible actually, CAFE standards that imposed expensive restrictions,” Trump said at the Oval Office, flanked by the CEOs of Ford Motor and Stellantis.
The Corporate Average Fuel Economy, or CAFE, standards date back to 1975 and have been tightened over the years to make vehicles more efficient.
Former President Joe Biden had required automakers to increase the fuel efficiency of passenger cars and light trucks to about 50 miles per gallon by 2031. These stricter standards were expected to stimulate the production and sale of electric vehicles in the U.S.
The standards proposed by the Trump administration would require cars to get about 34 miles to the gallon by 2031, according to the National Highway Traffic Safety Administration.
Trump has sought to dismantle pollution regulations and federal support for electric vehicles as well as renewable energy since taking office.
The oil industry group the American Petroleum Institute has lobbied the Trump administration to repeal the Biden fuel economy standards, contending that they aim to phase out liquid fuel vehicles.
The announcement was attended by Ford CEO Jim Farley and Stellantis CEO Antonio Filosa, as well as a plant manager for General Motors from Michigan.
Ford CEO Jim Farley and Stellantis CEO Antonio Filosa listen as U.S. President Donald Trump announces new fuel economy standards, in the Oval Office at the White House in Washington, D.C., U.S., December 3, 2025.
Brian Snyder | Reuters
Many of the officials in attendance, including U.S. dealers, said the new standards are more in line with the vehicles customers want to buy rather than the more costly ones automakers have been pushed to produce due to regulations.
Trump and other officials also touted the new regulations as assisting in vehicle affordability, which has been an ongoing concern for the automotive industry, as the average new vehicle purchased hovers around $50,000.
The Alliance for Automotive Innovation, a trade group that represents the majority of automakers operating in the U.S., also praised the cuts.
“We’re reviewing NHTSA’s announcement, but we’re glad the agency has proposed new fuel economy standards,” John Bozzella, CEO of the organization, said in a statement. “We’ve been clear and consistent: The current CAFE rules finalized under the previous administration are extremely challenging for automakers to achieve given the current marketplace for EVs.”
U.S. EV leader Tesla did not respond for comment regarding the reduced standards.
— CNBC’s Phil LeBeau and Lora Kolodny contributed to this report.
Shares of 349 companies were traded. At the end of the day, 58 stocks closed higher. PHOTO: EXPRESS
KARACHI:
In yet another volatile session, the Pakistan Stock Exchange (PSX) on Wednesday experienced a broad-based decline as investors remained cautious, which pulled the benchmark KSE-100 index down by nearly 1,500 points.
In the morning, the market opened on a positive note, which briefly lifted the index, but early gains evaporated when investors trimmed their positions in the absence of positive triggers. The index moved in a narrow band throughout the session, fluctuating between the intra-day high of 168,161 and the low of 166,115. At close, the KSE-100 settled at 166,145.35, down 1,496.93 points, or 0.89%.
KTrade Securities observed that the PSX faced continued selling pressure after its recent strong rally, which fell just short of the all-time high hit in October. The KSE-100 index slipped 1,497 points (-0.89%). Trading remained largely range bound, where Fauji Fertiliser, Meezan Bank, United Bank, Hub Power and Engro Holdings came under pressure. On the other hand, TRG Pakistan bucked the trend along with OGDC, Pioneer Cement and Faysal Bank, it said.
Looking ahead, KTrade expected the sentiment to remain constructive, fuelled by the IMF board meeting scheduled for December 8.
Topline Securities commented that the local bourse concluded trading on a muted note, settling at 166,145 after shedding 1,497 points. The benchmark index remained highly volatile throughout the day, swinging between the intra-day peak of 168,161 and the trough of 166,115, as news of institutional selling weighed on the market.
Sentiment remained under pressure, caused by heavyweights including Fauji Fertiliser, Meezan Bank, United Bank, Hub Power and Engro. Collectively, these stocks wiped off 858 points from the index, it said.
As anticipated, the PSX continued its consolidation between the 166k and 168k range, with the KSE-100 closing at 166,145, down 1,497 points, said Arif Habib Limited Deputy Head of Trading Ali Najib. The session opened on a positive footing, briefly pushing the index to the intra-day high of 168,161 (+519 points). However, the early momentum faded as investors opted to trim positions amid the absence of fresh positive triggers, he said.
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Stocks To Watch: Infosys, ONGC, Pine Labs, JSW Steel, IndiGo, Tata Capital, And Others
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