Unfortunately, No.
NSIS lets you create scriptable, procedural installation packages. It’s simple, easy to use and has a number of features not present in Windows Installer.
Windows Installer (MSI) creates database driven, transactional installation packages. When written properly a Windows Installer package is very robust, a file gets corrupted/deleted and it will be automatically reinstalled. Windows Installer is aware of UAC and only elevates when required, basically if you’re creating software for the corporate market, you will need to provide an MSI.
Check out The Definitive Guide to Windows Installer for a good introduction to understanding MSI.