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.