After Morgan Stanley, another global investment advisory firm Goldman Sachs has turned bullish on India, upgrading the domestic equities to Overweight.

“We raise India equities to Overweight within our EM and Asian allocation and expect Nifty to reach 29,000 by end-2026, which implies 14 per cent upside, led largely by underlying 14 per cent trend earnings growth in 2026-27,” Goldman Sachs said in its latest report.

‘Defensible’

With India’s valuation premium to emerging markets (EM) now sharply lower compared to September 2024 levels, the investment advisory firm said it has become “defensible,” even if India remains the priciest among peers. The global investment advisory firm had downgraded India’s rating to Neutral in October 2024, citing its “worst relative underperformance” in two

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