Sensex, Nifty Near Day’s High; ITC, SBI Top Gainers

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From Bloomberg: Goldman Upgrades India To OverWeight From MarketWeight, Expects Nifty To Touch 12,500

Indian stocks will accelerate gains in the lead-up to the election next month as foreign investors pile back in amid a “sharp underperformance” in the market and earnings growth that’s expected to top the region, Bloomberg reported quoting Goldman Sachs Group.

“Equities of Asia’s third-largest economy were raised to overweight from marketweight—just six months after Goldman downgraded them,” the report said, adding that the Nifty 50 will reach 12,500 in 12 months, implying a 9.1 percent gain from Monday’s close, while earnings growth this year is expected to climb 16 percent.

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