Last week, the Nifty 50 crossed 18,000; again! Thus so far Nifty 50’s attempts at crossing 18,000 have turned out to be Sisyphean — like the efforts of King Sisyphus of Greek mythology. Nifty 50 too, through a time-wise correction over the last two years, has to an extent paid for its violations. Valuation is not yet cheapYes, valued at 19.5 times one year forward earnings, Nifty 50 is trading in line with its five-year average valuation. However, if you scratch the surface and dig deeper, buying at average valuation in the current context might not be that good.

Source: The Hindu May 07, 2023 03:32 UTC