New Delhi, Oct. 14 -- The Indian stock market benchmark indices, Sensex and Nifty 50, have delivered muted performance in the past one year, tracking tepid corporate earnings, global headwinds, and sustained outflow of foreign funds.

Going ahead, key triggers for the Indian stock market include the real demand growth across consumer categories in the ongoing festive season consequent to GST rate cut and a potential US-India trade deal.

"Corporate earnings are expected to grow at 12% CAGR over FY25-27E. We expect double digit earnings growth to resume from FY27E onwards, which should ensure healthy equity returns going forward," ICICI Direct said in a note.

It has a one year forward Nifty target of 27,000 levels (22x PE on FY27E).

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