New Delhi, April 9 -- Morgan Stanley's Ridham Desai, in the latest note, said that the Indian stock market looks poised for a strong upmove in the coming months, even as pessimism prevails currently due to the ongoing geopolitical conflict in the Middle East. A confluence of weak trailing performance, valuations, positioning and earnings is behind Morgan Stanley's bullish view.

Against this backdrop, it projects Sensex target for 2026 at the 95,000 level in its base-case scenario, signalling a near 24% upside from current levels. The index closed at 76,631 on April 9.

Morgan Stanley said, in a report dated April 8, that the Indian stock market's 12-month trailing performance is the worst in history, and relative valuations are at previo...