Wall Street brokerages target Nifty near 30,000 as foreign investors keep selling Indian stocks

CryptoNews.net reports that several global brokerages, including Goldman Sachs, JPMorgan, Nomura, BofA, UBS and Citi, maintain bullish targets for India's Nifty index, with JPMorgan holding a 30,000 bull case, Nomura at 29,300, Goldman Sachs and BofA at 29,000, UBS at 27,500 and Citi at 27,000. The same outlet says those projections rest on expectations of an earnings recovery, Indian economic growth and better valuations. At the same time, CryptoNews.net reports that foreign portfolio investors pulled 20,974 crore rupees out of Indian equities as of September 19, following 20,200 crore rupees invested in July and 29,630 crore rupees invested earlier in the period described. The article does not explain the reason for the selling, and no other outlet covered the story, so the divergence between price targets and foreign outflows rests on a single report.