New Delhi, Oct. 20 -- InCred Equities, in its latest note, turned bullish on the Indian stock market as it raised the Nifty 50 December 2026 target to 28,433 while upgrading its rating to 'Overweight' from 'Neutral.' The brokerage cited a mix of tailwinds, including easing valuations, a recovery in earnings, and early signs of a revival in domestic consumption, which it believes could drive the Indian stock market after its recent underperformance.

Taking a more optimistic view, the brokerage revised its bull-case probability to 40% and reduced the bear-case probability to 10% for FY26F. It pegged the Nifty 50's bull-case target at 30,304, implying an upside of 19% if the Indian economy rebounds faster than expected.

In recent months, b...