Oil at $90-100 will impact macros and the market: Sunil Koul, Goldman Sachs

Goldman Sachs says it is broadly neutral on India with a 12-month Nifty return upside of around 11%, driven by expected earnings growth of 10% this year and 13% next year. The firm expects Brent crude at $80 by year-end and warns that oil in the $90-100 range would pressure macros and sentiment, though it sees Indian earnings holding up well. Foreign flows into India have picked up since mid-June, and Goldman prefers banks as a relatively cheaper, liquid pocket likely to benefit if foreign appetite returns.