Markets to stay range-bound in near-term, Nifty at 27,000 by end of 2025: Goldman Sachs

According to the brokerage, the markets are likely to remain range-bound in the near-term.

International brokerage Goldman Sachs sees the key Nifty 50 index hitting the 27,000-mark by the end of 2025, as per a recent note.

According to the brokerage, the markets are likely to remain range-bound in the near-term, remaining flat over the next three months, with a target of 24,000 for a back-loaded recovery, as growth picks up.

Currently, the markets have external immunity, however, there is a cyclical slowdown in domestic growth. Therefore, weak earnings coupled with high valuations will cause the markets to remain range-bound.

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The brokerage said it was 'tactically neutral' on India. Goldman Sachs preferred medium-term themes, including housing, agriculture, defense, tourism and affluent India.

Goldman Sachs is positive on the export theme, raising the Infotech segment to 'overweight' and the Pharma sector to 'market-weight' on improving demand, coupled with EPS tailwinds from a weaker INR and defensive characteristics.

There are four 'flavours' of quality that the brokerage is positive about: strong balance sheets, high earnings visibility, positive EPS revisions and low beta stocks.

Earlier today, global broking firm Citi shared that it sees the Nifty 50 at 25,000 by September 2025, which indicates roughly a seven percent upside from current levels. Following the 10 percent correction in the benchmark Nifty 50 index from its all-time high, Citi argued that the index's valuations are reasonable.

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