India Weekly Kickstart: Goldman Sachs on NIFTY Outlook, AI Capex, and Foreign Fund Flows

Key Takeaways

• 1.NIFTY fell 1% during the week amid US Treasury yield pressure and elevated oil risks, while Goldman Sachs maintains a Marketweight stance on India with a June 2027 index target of 26,500.
• 2.Foreign active long-only funds have begun to inflect their underweight stance on India, recording the largest relative exposure increase among emerging market funds over the past 1-3 months.
• 3.Global active long-only funds remain underweight India by approximately 185 bps, leaving significant room for further foreign allocation reversal.

Table of Contents

• Weekly Wrap
• Focus: Foreign Positioning In India
• Focus: AI Enablers Boosting Capex Growth
• Views: MW India; Expect NIFTY to reach 26,500 by June'27
• Performance summary: Global Markets, Commodities, FX, and Rates
• India: Sector performance
• Relative performance of MSCI India sectors
• Thematic monitor
• Style investing monitor
• Earnings Revisions
• Valuations
• FII equity flows
• Domestic fund flows
• India Equity Risk Barometer (GSSRIERB)
• Market Breadth, Volatility and Derivatives Positioning

Report data

Exhibit 4: Active long-only funds globally are underweight India by around 180bps — as of September 25, 2026.

Reports in this series

India Weekly Kickstart is shown in chronological order through this edition, published on September 25, 2026.

Part of the India Weekly Kickstart series — view all 10 editions

Looking for the latest edition? India Weekly Kickstart NIFTY settled flat w w (Oct 9, 2026)

1. Aug 7India Weekly Kickstart NIFTY gained 1 this week
2. Sep 4India Weekly Kickstart NIFTY lost 1 w w amid Oil Rate risks
3. Sep 11India Weekly Kickstart NIFTY fell 2 , extending its weakness for a fifth consecutive week, amid rising oil rate risks
4. Sep 18India Weekly Kickstart NIFTY closed the week flat as oil stabilized