Home / Business and Economy / Nifty 50 Eyes 26,500 by 2027: Goldman Sachs Upgrades Outlook
Nifty 50 Eyes 26,500 by 2027: Goldman Sachs Upgrades Outlook
13 Jul
Summary
- Goldman Sachs predicts Nifty 50 could reach 26,500 by June 2027.
- Utilities sector upgraded to 'overweight' by the brokerage firm.
- India's outlook improved due to lower commodity prices and stable currency.
Goldman Sachs anticipates the Nifty 50 index may recover to 26,500 by June 2027, indicating a potential 10% increase from current levels. This projection follows a 9% drawdown in the first half of the year.
The firm has upgraded the Utilities sector to 'overweight' and maintains a bullish stance on banks, energy refiners, Technology, Media & Telecommunications (TMT), and defence.
Structurally, Goldman Sachs remains positive on defence and energy security within India. However, it retains an 'underweight' rating on exporters and downstream oil sectors, also downgrading select materials.
This revised outlook stems from recent improvements in India's economic landscape, including reduced commodity prices, a stable currency, robust domestic growth, and positive earnings expectations for the second quarter.
