Citi Group has upgraded Indian stocks with an overweight rating from neutral stating that the strategists see meaningful upside amid less demanding valuations, it said in the latest Equity Strategy report.
Citi Group estimates that the benchmark NSE Nifty 50 Index may rise to 26,000 by the end of December 2025, implying about a 15 per cent gain from the current trading level.
Nifty 50 index dipped 216.65 pts or 0.95 per cent to 22,579.25 as at 2.48 pm on Monday, after hitting a low of 22,518.80 intraday.
Financials and healthcare are among key sectoral overweights, per Citi’s report, while consumer discretionary, utilities were underweight.
Meanwhile, the brokerage firm has downgraded Southeast Asia (ASEAN) to underweight from neutral amid relatively weak EPS momentum and growth forecasts. Citi has turned overweight on Chile from neutral. Saudi Arabia has been assigned neutral call from overweight.