Nifty could head to 32,000 by FY29 as earnings recover, says Sohum's Sanjay Parekh
CNBC-TV18 2d ago·9 Nov 2026, 6:12 am
Sohum Asset Managers' Sanjay Parekh has set an ambitious target for the Nifty index, suggesting it could reach 32,000 by the end of the fiscal year 2029. This outlook is largely driven by a projected recovery in corporate earnings across various sectors, which he believes will support the broader equity market. Parekh is particularly optimistic about large banks, automobiles, and the National Stock Exchange (NSE), viewing them as strong contenders for growth.
For investors eyeing the Swiggy IPO, Parekh's commentary offers a positive signal. He has explicitly included Swiggy in his list of preferred stocks, indicating confidence in the food delivery platform's potential. However, he maintains a cautious stance on the Information Technology (IT) and Fast-Moving Consumer Goods (FMCG) sectors. Investors should monitor the pace of earnings recovery and how these specific sectors perform against this backdrop.
Excerpt from CNBC-TV18
Published On Nov 9, 2026 | 11:42 IST Last Updated On Nov 9, 2026 | 11:42 IST Sohum Asset Managers' Sanjay Parekh sees earnings recovery supporting Indian equities. He favours large banks, autos, NSE and Swiggy while remaining cautious on IT and FMCG. Sanjay Parekh, Founder and CIO of Sohum Asset Managers, expects an…Read the original at CNBC-TV18
Affected stocks
Bullish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns Swiggy (SWIGGY).
- Category: Results.
- AI reads the tone as positive (potentially bullish) for the stock.
- Flagged as a high-impact, market-moving story.
Why it matters
This is a high-impact development for Swiggy and could move the stock. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
