“Bullish on the Sensex, projecting it to reach 89,000 by June 2027 in their base case (50% probability). This outlook is driven by continued macroeconomic stability, higher private investment, a positive real growth-real interest rate gap, robust domestic growth, steady global growth, lower oil prices, and benign monetary policy. They expect Sensex earnings to compound at 16% annually through FY2029, with India in a multi-quarter growth upcycle.”