MUMBAI Nov 29 Goldman Sachs raised India to
'overweight' from 'market-weight', citing growth recovery and
inflation moderation ahead.
The investment bank pegged December 2013 Nifty
target at 6,600 points.
"Reform initiatives and changes in government leadership
this fall have created a sense of optimism among the domestic
investor base for the first time in over a year, and the risk of
policy missteps in 2013 has been lowered," said Goldman Sachs in
The investment bank added that MSCI India's valuation was
well below the 5-year average of 14.9 times, affording an
attractive entry point into one of the stronger structural
growth markets in the region.
Nifty ended 1.62 percent up at 5,727.45 points on Tuesday.
(Reporting by Abhishek Vishnoi and Manoj Dharra; Editing by