Nifty 50 target, Nov. 27 -- Global brokerage JP Morgan said India's benchmark index could climb to 30,000 by the end of next year, powered by steady fiscal and monetary policy that are likely to fuel demand.

From Thursday's close, the Nifty target for 2026-end signals an over 14% upside. The index hit a fresh high of 26,310 today after a gap of 14 months as earnings expectations improved while macroeconomic indicators and domestic inflows remained robust.

JP Morgan analysts said that while market valuations are still at a premium to other emerging markets (EMs), they have eased below their long-term average after 14 months of underperformance.

This year, India has significantly underperformed its Asian and emerging market peers despite...