Last week’s steep fall in leading indices has made market valuations cheaper, as compared to the start of 2020. The Nifty, after about 10 per cent decline from its high, is trading at slightly more than 17x FY21 estimated earnings and is now closer to its mean one-year forward valuations of 16.5x.
Experts, however, believe investors still need to tread with caution, given the downside risks to growth and earnings. The fall in the Indian market is being led by the decline in the global markets, given the rapidly spreading coronavirus and the expected slowdown in global growth ...
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First Published: Sun, March 01 2020. 23:06 IST
