Goldman Sachs sees Nifty hitting 29,000 by end-2026
Goldman Sachs just upgraded Indian stocks to "overweight," flipping its earlier downgrade from October 2024.
The bank now sees the Nifty 50 hitting 29,000 by the end of 2026—a possible 14% jump from here.
Sectors to gain the most
India's stock market seriously lagged behind other emerging markets in 2024, experiencing its worst relative underperformance in two decades.
But Goldman thinks things are about to turn around as earnings stabilize and new policies kick in.
Sectors like finance, consumer goods, defense, and oil marketing could see the biggest gains.
Risks involved in the process
Goldman points to expected RBI rate cuts, easier liquidity, tax tweaks, and slower government belt-tightening as key drivers.
They also highlight themes like self-sufficiency and growth in tech sectors.
Still, risks remain—like profit misses or global shocks—so it's not all smooth sailing ahead.