Global brokerage firm Goldman Sachs has turned positive on Indian equities, upgrading India to “overweight” on Monday, November 10. This change in outlook comes 13 months after the firm had downgraded its stance to “neutral” in October 2024.
The brokerage has now set a Nifty50 target of 29,000 by December 2026, suggesting a potential upside of about 14% from Friday’s closing levels. The upgrade reflects the firm’s belief that India’s equity markets are well-positioned for recovery, supported by policy easing, improving earnings, and better investor sentiment after a year of underperformance.
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Goldman Sachs has identified financials, consumer staples, defence, and oil marketing companies (OMCs)
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