Sensex to hit 93,918 by Dec 2026: Wealth management firm Client Associates

New Delhi, Jan 7 (PTI) Amid elevated equity valuations and persistent global uncertainties, wealth management firm Client Associates (CA) on Wednesday projected the BSE's benchmark Sensex to climb to 93,918 by December 2026, highlighting gold and silver as critical portfolio diversifiers.

This translates into an upside of 11 per cent from the current level of 84,805.

In its annual equity assessment for 2026, the multi-family office also highlighted the growing importance of commodities, especially gold and silver as strategic portfolio diversifiers in an increasingly volatile market environment.

CA manages over USD 7 billion in assets for high-net-worth and ultra-high-net-worth individuals for more than 1,100 HNIs and ultra HNIs.

Precious metals performed strongly in 2025, supported by a weaker dollar, geopolitical uncertainty, and shifting monetary dynamics.

Gold demand increased meaningfully, driven by central bank purchases, reinforcing its role as a strategic portfolio diversifier. Besides, silver prices also saw a sharp run-up amid global supply concerns and geopolitical developments, including renewed tensions between the US and China and discussions around classifying silver as a critical or rare metal.

According to CA, the market narrative in 2026 is likely to shift away from broad-based rallies towards selective, fundamentals-driven opportunities, as investors navigate the twin challenges of high valuations and uneven global growth.

"India's domestic macro strength and improving earnings outlook remain supportive, but elevated valuations and global uncertainties call for a disciplined approach," said Nitin Agarwal, Head of Investment Research at Client Associates.

On the domestic front, the firm remains constructive on India's growth outlook, as FY26 GDP growth estimate has been revised upward to 6.8 per cent, driven by resilient demand conditions, expanding manufacturing and services activity, and steady GST collections that point to sustained economic momentum.

In its report, CA has "set a December 2026 Sensex target of 93,918, representing a measured increase from end-2025 levels".

Going by the report, equities will remain central to long-term wealth creation complemented by prudent diversification and risk management. PTI SP TRB