Brokerage firm Goldman Sachs has upgraded India to "overweight" on Monday, November 10, 13 months after downgrading its view to "neutral" back in October 2024.

The brokerage has set the Nifty 50 target at 29,000 by the end of December 2026, which implies a potential upside of 14% from Friday's closing levels.

Among the key themes to bet on, Goldman Sachs recommends financials, consumer staples, defence, and Oil Marketing Companies. It has cited earnings shortfall, external headwinds and investor concerns over the impact of AI as some of the key risks.

India's equity markets are up 3% in US Dollar terms, underperforming Emerging Markets, which have risen as much as 30% this year so far. Goldman Sachs attributed the underperformance to a mix of high valuations, cyclical growth and profit

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