<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251120_1502_NSE-with-Rising-Chart_simple_compose_01kag9kedef4cvf21hqtsdsr49.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251120_1502_NSE-with-Rising-Chart_simple_compose_01kag9kedef4cvf21hqtsdsr49.png"/></p>
<p>印度基準股票指數在週四創下新高，受到外資投資者興趣回暖、企業盈利穩定以及對宏觀經濟改善的樂觀情緒的支持。</p>
<p>Nifty 50 指數在孟買上漲了 0.74%，達到 26,246.65，超過了 2024 年 9 月的峯值，成為今年最後一個創下歷史新高的主要全球市場之一。</p>
<h2>外資流入在情緒改善中迴歸</h2>
<p>在連續三個月撤資後，海外投資者在十月份恢復了對印度股票的淨購買。</p>
<p>全球基金自上個月初以來已淨投資 13 億美元，受到更好的盈利結果、較低的消費税和與華盛頓貿易談判進展的鼓舞。</p>
<p>PL Asset Management 的基金經理 Siddharth Vora 在彭博社的報道中表示：“我們看到強勁的復甦，受到節日消費強勁、盈利穩定和外資投資者需求明顯回升的推動。”</p>
<p>他補充説，這些因素改善了印度市場的整體風險回報平衡。</p>
<p>根據花旗集團的數據，九月份季度的企業業績 “略高於” 預期。</p>
<p>經過一段時間的下調後，市場共識盈利預測現在顯示出穩定的跡象。</p>
<p>彭博情報數據顯示，MSCI 印度成分股的盈利預計在 2026 年增長 15.9%，而今年僅增長約 2%。</p>
<h2>全球銀行儘管估值擔憂仍轉向看漲</h2>
<p>復甦的加強促使主要全球金融機構對印度市場採取更為積極的看法。</p>
<p>摩根士丹利和高盛均已轉向看漲，指出盈利趨勢改善和政策支持勢頭。</p>
<p>摩根士丹利預計印度將克服相對於新興市場同行的相對低迷期，並預測 BSE Sensex 到 2026 年底將上漲 13%。</p>
<p>分析師 Ridham Desai 和 Nayant Parekh 寫道，印度的政策轉變為名義增長和企業盈利的反彈奠定了基礎，尤其是在中期週期放緩之後。</p>
<p>該公司為 Sensex 指定了一個牛市目標，預計到 2026 年 12 月將達到 107,000——比當前水平幾乎上漲 26%。</p>
<p>高盛還將印度評級上調至超配，並預測 Nifty 50 到 2026 年 12 月將達到 29,000，意味着上漲 11%。</p>
<p>該券商指出，印度股票在 2024 年落後於全球同行，但隨着政策支持加強和宏觀經濟壓力緩解，似乎已為反轉做好了良好準備。</p>
<p>預計印度儲備銀行的潛在降息、流動性改善、銀行放松管制、GST 調整和財政整合速度放緩等因素將促進表現。</p>
<h2>儘管風險依然存在，市場動能依然增強</h2>
<p>印度仍在朝着連續第十年創下年度股票收益的記錄前進，受到近 780 億美元的國內機構投資和穩定的零售參與的支持。</p>
<p>然而，市場仍落後於區域基準：MSCI 印度的表現自 1993 年以來落後於新興市場同行的幅度最大，部分原因是全球 AI 相關股票的上漲，而印度在這一領域的敞口相對較低。</p>
<p>儘管如此，分析師表示，該國的防禦性市場定位、改善的企業基本面和政策連續性仍然吸引着尋求亞洲替代增長機會的投資者。</p>
<p>隨着外資流入迴歸和盈利動能增強，印度的股票市場在年末進入最後階段，信心恢復，2026 年的預期更強。</p>
<p>印度股票市場在外資流入復甦和盈利增強的背景下創下新紀錄，文章首發於 Invezz。</p>

高盛

摩根士丹利

<p>印度股市創下新高，主要受到外資投資興趣回暖、企業盈利穩定以及對宏觀經濟形勢的樂觀情緒推動。Nifty 50 指數上漲 0.74%，達到 26,246.65。摩根士丹利和高盛等全球銀行採取了看漲立場，預測未來將進一步增長。儘管與其他新興市場相比表現稍顯遜色，但印度市場受到國內投資和政策支持的提振，預計將持續增長至 2026 年</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/11/20251120_1502_NSE-with-Rising-Chart_simple_compose_01kag9kedef4cvf21hqtsdsr49.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/11/20251120_1502_NSE-with-Rising-Chart_simple_compose_01kag9kedef4cvf21hqtsdsr49.png"/></p>
<p>India’s benchmark equity index touched a fresh record high on Thursday, supported by renewed foreign investor interest, stabilizing corporate earnings, and optimism over improving macroeconomic conditions.</p>
<div class="lb-trans"><p>印度基準股票指數在週四創下新高，受到外資投資者興趣回暖、企業盈利穩定以及對宏觀經濟改善的樂觀情緒的支持。</p>
</div><p>The Nifty 50 Index climbed as much as 0.74% to 26,246.65 in Mumbai, surpassing its September 2024 peak and becoming one of the final major global markets to set a new all-time high this year.</p>
<div class="lb-trans"><p>Nifty 50 指數在孟買上漲了 0.74%，達到 26,246.65，超過了 2024 年 9 月的峯值，成為今年最後一個創下歷史新高的主要全球市場之一。</p>
</div><h2>Foreign inflows return amid improving sentiment</h2>
<div class="lb-trans"><h2>外資流入在情緒改善中迴歸</h2>
</div><p>Overseas investors resumed net purchases of Indian equities in October after three consecutive months of withdrawals.</p>
<div class="lb-trans"><p>在連續三個月撤資後，海外投資者在十月份恢復了對印度股票的淨購買。</p>
</div><p>Global funds have invested a net $1.3 billion since the beginning of last month, encouraged by better earnings results, lower consumption taxes, and progress in trade negotiations with Washington.</p>
<div class="lb-trans"><p>全球基金自上個月初以來已淨投資 13 億美元，受到更好的盈利結果、較低的消費税和與華盛頓貿易談判進展的鼓舞。</p>
</div><p>“We’re seeing a powerful resurgence, driven by strong festive consumption, stabilizing earnings, and a clear revival in foreign investor appetite,” said Siddharth Vora, fund manager at PL Asset Management in a Bloomberg report.</p>
<div class="lb-trans"><p>PL Asset Management 的基金經理 Siddharth Vora 在彭博社的報道中表示：“我們看到強勁的復甦，受到節日消費強勁、盈利穩定和外資投資者需求明顯回升的推動。”</p>
</div><p>He added that these factors improve the broader risk–reward balance for Indian markets.</p>
<div class="lb-trans"><p>他補充説，這些因素改善了印度市場的整體風險回報平衡。</p>
</div><p>Corporate results for the September quarter came in “slightly ahead” of expectations, according to Citigroup.</p>
<div class="lb-trans"><p>根據花旗集團的數據，九月份季度的企業業績 “略高於” 預期。</p>
</div><p>Consensus earnings forecasts, which had been trimmed over an extended period, are now showing signs of stabilizing.</p>
<div class="lb-trans"><p>經過一段時間的下調後，市場共識盈利預測現在顯示出穩定的跡象。</p>
</div><p>Bloomberg Intelligence data indicates that earnings for MSCI India constituents are expected to grow 15.9% in 2026, compared with only about 2% this year.</p>
<div class="lb-trans"><p>彭博情報數據顯示，MSCI 印度成分股的盈利預計在 2026 年增長 15.9%，而今年僅增長約 2%。</p>
</div><h2>Global banks turn bullish despite valuation concerns</h2>
<div class="lb-trans"><h2>全球銀行儘管估值擔憂仍轉向看漲</h2>
</div><p>The strengthening recovery has prompted major global financial institutions to adopt a more constructive view on Indian markets.</p>
<div class="lb-trans"><p>復甦的加強促使主要全球金融機構對印度市場採取更為積極的看法。</p>
</div><p>Both Morgan Stanley and Goldman Sachs have shifted to a bullish stance, citing improving profit trends and supportive policy momentum.</p>
<div class="lb-trans"><p>摩根士丹利和高盛均已轉向看漲，指出盈利趨勢改善和政策支持勢頭。</p>
</div><p>Morgan Stanley expects India to overcome its period of relative underperformance against emerging-market peers and forecasts the BSE Sensex to rise by 13% by the end of 2026.</p>
<div class="lb-trans"><p>摩根士丹利預計印度將克服相對於新興市場同行的相對低迷期，並預測 BSE Sensex 到 2026 年底將上漲 13%。</p>
</div><p>Analysts Ridham Desai and Nayant Parekh wrote that India’s policy pivot is laying the groundwork for a rebound in nominal growth and corporate earnings after a mid-cycle slowdown.</p>
<div class="lb-trans"><p>分析師 Ridham Desai 和 Nayant Parekh 寫道，印度的政策轉變為名義增長和企業盈利的反彈奠定了基礎，尤其是在中期週期放緩之後。</p>
</div><p>The firm assigned a bull-case target of 107,000 for the Sensex by December 2026—an almost 26% upside from current levels.</p>
<div class="lb-trans"><p>該公司為 Sensex 指定了一個牛市目標，預計到 2026 年 12 月將達到 107,000——比當前水平幾乎上漲 26%。</p>
</div><p>Goldman Sachs also upgraded India to Overweight and projected the Nifty 50 to reach 29,000 by December 2026, implying an 11% rise.</p>
<div class="lb-trans"><p>高盛還將印度評級上調至超配，並預測 Nifty 50 到 2026 年 12 月將達到 29,000，意味着上漲 11%。</p>
</div><p>The brokerage noted that Indian equities, which lagged global peers through 2024, appear well positioned for a reversal as policy support strengthens and macroeconomic pressures ease.</p>
<div class="lb-trans"><p>該券商指出，印度股票在 2024 年落後於全球同行，但隨着政策支持加強和宏觀經濟壓力緩解，似乎已為反轉做好了良好準備。</p>
</div><p>Potential Reserve Bank of India rate cuts, improved liquidity, bank deregulation, GST adjustments, and a slower pace of fiscal consolidation are among the factors expected to bolster performance.</p>
<div class="lb-trans"><p>預計印度儲備銀行的潛在降息、流動性改善、銀行放松管制、GST 調整和財政整合速度放緩等因素將促進表現。</p>
</div><h2>Market momentum builds despite lingering risks</h2>
<div class="lb-trans"><h2>儘管風險依然存在，市場動能依然增強</h2>
</div><p>India remains on course for a record tenth consecutive year of annual equity gains, buoyed by nearly $78 billion in domestic institutional investment and steady retail participation.</p>
<div class="lb-trans"><p>印度仍在朝着連續第十年創下年度股票收益的記錄前進，受到近 780 億美元的國內機構投資和穩定的零售參與的支持。</p>
</div><p>Yet the market still trails regional benchmarks: MSCI India is underperforming its emerging-market counterpart by the widest margin since 1993, partly due to the global rally in AI-related stocks—an area where India has comparatively lower exposure.</p>
<div class="lb-trans"><p>然而，市場仍落後於區域基準：MSCI 印度的表現自 1993 年以來落後於新興市場同行的幅度最大，部分原因是全球 AI 相關股票的上漲，而印度在這一領域的敞口相對較低。</p>
</div><p>Even so, analysts say the country’s defensive market positioning, improving corporate fundamentals, and policy continuity continue to attract investors seeking alternative growth opportunities in Asia.</p>
<div class="lb-trans"><p>儘管如此，分析師表示，該國的防禦性市場定位、改善的企業基本面和政策連續性仍然吸引着尋求亞洲替代增長機會的投資者。</p>
</div><p>As foreign inflows return and earnings momentum firms, India’s equity market enters the final stretch of the year with renewed confidence and stronger expectations for 2026.</p>
<div class="lb-trans"><p>隨着外資流入迴歸和盈利動能增強，印度的股票市場在年末進入最後階段，信心恢復，2026 年的預期更強。</p>
</div><p>The post India’s equity market hits new record as foreign inflows revive and earnings strengthen appeared first on Invezz</p>
<div class="lb-trans"><p>印度股票市場在外資流入復甦和盈利增強的背景下創下新紀錄，文章首發於 Invezz。</p>
</div>

由於外國資金流入的復甦和企業收益的增強，印度股市創下新紀錄