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Brokerage upgrades India to overweight, sets Nifty target at 29,000
Goldman Sachs upgraded India equities to overweight, targeting Nifty at 29,000 by end-2026 and citing earnings recovery and policy tailwinds.
Global investment bank Goldman Sachs upgraded its view on Indian equities to overweight on November 10, raising its target for the Nifty 50 index to 29,000 by December 2026. The brokerage cited four key themes: domestic earnings recovery, policy support, foreign-investor reallocation and structural growth in financials and consumer staples. It expects approximately 14% upside from current levels and noted India remains one of the few large markets offering both growth and relative earnings stability.
Risks identified include global policy shocks and earnings below expectations.