Goldman Sachs expects India's Nifty index to reach 26,500, pointing to nearly 9.5 percent upside from recent levels. The projection is based on lower commodity prices, a stabilized currency, and healthy second-quarter earnings expectations.
The brokerage highlighted an improved domestic economic outlook driven by these factors. Foreign investor positioning remains ultra-light, which the firm said leaves room for potential capital inflows.
Goldman Sachs recommended investments in banks, tourism, and energy refiners as areas for possible gains. Specific stocks mentioned in related coverage include Reliance Industries, Adani Power, and HDFC Bank.
The forecast reflects current market conditions without specifying an exact timeline for the target level.