MS Research predicts India's equity markets could see robust returns, with the BSE Sensex potentially reaching 95,000 by December 2026, a 13% upside with 50% probability. This forecast is based on favorable valuations, macro stability, and a projected 17% annual earnings growth through fiscal 2028. Key drivers include fiscal consolidation, increased private investment, recovering urban demand, government capital expenditure, and GST rate cuts. The report favors consumer discretionary, industrials, and financials sectors.