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Thursday, November 29, 2012

Goldman Sachs Positive on India!

In case you have missed reading this from news reports:

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 a report.

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.

Goldman Sachs is a company of good traders and they know where to put their money in and when to exit with profits. In this case, they are overweight on India, which is good news for us local investors, as lots of foreign investors might read this report and change their sentiment on India.

Markets are all about sentiment in short term, and earnings in longer!

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