New Delhi, April 16 -- Goldman Sachs has downgraded Indian consumer discretionary stocks, which include autos and consumer durables, from overweight to marketweight given the near-term earnings impact from the lockdown restrictions and margin headwinds from rising commodity input costs.

It said that record virus cases and lockdown restrictions have fuelled correction/growth concerns.

"We reduce Q2 forecasts but expect moderate impact overall as the restrictions have been targeted to specific sectors without broad spillovers so far. Our economists have revised down their CY21 real GDP growth forecast to 10.5 per cent (from 10.9 per cent previously) but remain above consensus.

"We lower our CY21 earnings growth forecast to 24 per cent (f...