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Goldman Sachs upgrades India equities, sets Nifty target of 29,000
Goldman Sachs upgraded Indian equities to overweight and raised its Nifty 50 target to 29,000, citing earnings recovery and policy tailwinds.
Investment bank Goldman Sachs upgraded its outlook on Indian equities to ‘overweight’ and set a target of 29,000 for the Nifty 50 index by 2026, citing a rebound in earnings, structural reforms and return of foreign flows. The brokerage said the upgrade comes after switching from a neutral stance in 2024 and expects the risk-reward for India to have improved.
The firm pointed to improvements in domestic demand, policy support and reasonable valuations as key drivers for market participation going forward.