The Economic Times

Rs 2.5 lakh crore IPO boom in 2026 could create liquidity drain, says HDFC Securities; pegs Nifty at 28,720

Indian markets enter 2026 balancing growth optimism with risks from a massive IPO pipeline and weak FII flows. HDFC Securities sees policy support, domestic liquidity, easing global risks and valuation corrections driving a potential Goldilocks recovery, with 16% earnings growth.