Goldman Slashes Nifty Target 12%: Defensives Emerge

The Impact\r

Indian markets just took a gut punch. Goldman Sachs slashed its Nifty 50 year-end target by nearly 12% to 25,900, downgrading the entire equity outlook and tilting risks firmly downside for the next three to six months. Traders are scrambling toward defensive plays like pharma and select banks, with brokerages like HSBC and others rolling out buy lists amid the gloom.\r \r

The Trigger\r

Goldman didn't mince words, per ET Now reporting. Inflation pressures are heating up, the...