Analysts are divided on India's stock market outlook after an 11-month rally, with Goldman Sachs downgrading shares to neutral due to slowing growth, while UBS advises buying the dip, viewing the slowdown as temporary. Concerns over high valuations and weakening consumer spending persist, but some believe India's growth potential remains strong. Goldman has adjusted its 12-month target for the NSE Nifty 50 Index to 27,000, indicating a 10% upside from recent levels.
Goldman Sachs has downgraded Indian equities to neutral from overweight, citing a slowdown in economic growth that is negatively affecting corporate earnings. Despite maintaining a positive long-term outlook for India, strategists noted a decline in earnings sentiment and a weak start to the September-quarter results season.
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