NEW DELHI: Goldman sachs has upgraded its outlook on Indian equities, citing the stock market’s strategic appeal that is driven by the large domestic market of the fast-growing economy amid a global slowdown.
According to the latest Goldman Sachs assessment of Asian markets, India is anticipated to offer the ” most promising long-term growth opportunities in the region, with the potential for mid-teens earnings growth in the coming years.”
Goldman Sachs sees the “largely domestic-oriented growth” providing investors with a diverse array of “alpha-generating themes”, including initiatives such as Make-in-India, large-cap compounders, and mid-cap multibaggers.
On the other hand, Goldman Sachs has downgraded its rating on Hong Kong-traded China stocks due to low earnings growth.
The bank has lowered Hong Kong-listed Chinese companies to market-weight and Hong Kong firms to underweight.
