Foreign brokerages temper return expectation from Indian equities

Goldman Sachs analysts now see the Nifty at 16,300 levels in 12 months (16,500 earlier). However, they have retained their 'overweight' stance on India for now

The sudden rise in Covid cases and the micro-lockdowns imposed across key economic hubs in India has seen foreign brokerages trim their return expectation from Indian equities over the next 12 months.

After Nomura that recently cut its March 2022 Nifty50 target to 15,340 (earlier target: 14,680 by December 2021), analysts at Goldman Sachs, too, have tempered their expectation, albeit modestly. They now see the Nifty at 16,300 levels in 12 months (16,500 earlier). However, they have retained their ‘overweight’ stance on India for now.

With the new Covid-19 cases in India surging to a record high and a host