Citi analyst Surendra Goyal said Indian equities may benefit from US midterm election outcomes that could slow AI spending and redirect capital toward non-AI assets. India's weight in emerging market portfolios sits near multi-year lows, and each one-percentage-point increase could trigger approximately $12 billion in inflows, according to Citi's analysis. The bullish outlook is further supported by solid earnings growth and declining oil prices, with every $10 drop in crude adding roughly 2% to Nifty 50 earnings. Citi raised its December 2027 target for the Nifty 50 index to 28,000 points from 26,000 points.