Wednesday, 1 November 2017

Goldman Sachs Overweight On India, Ups Nifty Target To 11600 Top 8 Conviction Buys

Posted by suhani varma on Wednesday, November 01, 2017 with No comments


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Goldman Sachs in a note last week remained overweight on India and raised the target for Nifty from 10,900 in September 2018 to 11,600 by December 2018, which translates into an upside of 11.6 percent from current levels.If you missed the equity bus last month then don’t worry, there is plenty of upside still left in Indian markets which makes it a buy even at current levels.

The Nifty50 which has already rallied over 26 percent to touch a fresh record high is on its way to surpassing Mount 11,000 in the year 2018, which translates into an upside of over 11 percent.

Goldman Sachs in a note last week remained overweight on India and raised the target for Nifty from 10,900 in September 2018 to 11,600 by December 2018, which translates into an upside of 11.6 percent from current levels.


Other than India, the global investment bank maintained an overweight stance on China and Indonesia. It has a market weight recommendation on markets such as Hong Kong, Korea, Taiwan, Thailand, and Phillippines. It has an underweight rating on Australia, Singapore, and Malaysia.

“We reaffirmed our strategic overweight stance on India post the bank recap news and raised our Nifty target to 11,600 (by end-’18). Within sectors, we raised PSU banks to overweight and highlighted 2 themes: 1) quality PSU/quasi-PSU banks; 2) infra-beneficiaries,” it said.

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