Nifty 50 Target, Dec. 12 -- Domestic brokerage Emkay Global Financial Services sees an 11% upside in the Indian stock market benchmark, Nifty 50, pegging the target at 29,000 for next year, driven by consumption boost and monetary easing.

"The GST reforms and structural boost to affordability will help revive consumption and the economy, while RBI's 'Do what it takes approach' will lead to a revival of retail lending," according to analysts.

While cautioning that near-term volatility may persist, Emkay Global notes that the earlier-mentioned catalysts offer a favourable setup for India's medium-term growth cycle. It expects healthy rainfall to aid income and consumption recovery, supported by an additional tailwind from the FY26 Union B...