After a year of underperformance, Indian equities are poised for a comeback in 2026, a Goldman Sachs report says. The brokerage has upgraded India back to overweight, citing supportive monetary policy, an earnings revival, and defensible valuations. The report forecasts a 14 per cent upside for the NIFTY by end-2026, with domestic sectors such as financials, autos, and consumer goods expected to lead the recovery. As macro conditions stabilize and foreign flows return, India’s relative valuation premium has normalised—setting the stage for moderate outperformance among emerging markets over the next 12 months. Key findings:

Published on November 11, 2025