Goldman Sachs Remains Overweight India

As the long-term positive macro story is still largely intact, Goldman Sachs remain overweight India in a regional context with a NIFTY 12-month target pegged at 9700. Sunil Koul and team at Goldman Sachs in their June 12, 2015 “India Weekly Kickstart” report points out that India’s valuations have dropped meaningfully in past few months. Potential impact of MSCI A-share inclusion over India The Goldman Sachs analysts note Indian equities continue to witness FII selling with $300 million of outflows last week. However, YTD FII inflows stood at $6.7 billion in equities and $5.6 billion in bonds. The analysts recall…