India is the most expensive equity market in the world, and “no amount of handwaving” can justify its current valuation levels, according to “Valuation Guru” Aswath Damodaran, a professor of finance at New York University and a leading expert on valuation. In his latest blog post, Damodaran highlighted that India trades at a staggering 31…
READ MOREIndia’s headline index, Nifty, is likely to end 2024 in the green, marking its 9th consecutive positive closing. Down nearly 10% from its lifetime peak, the 50-stock index has had a mixed year, trailing major global indices like the Nasdaq Composite, Nikkei, Hang Seng, and Shanghai Composite, while staying ahead of the Straits Times Index,…
READ MOREAfter staying in the green following a sharp rebound the week before this one, the markets finally succumbed to selling pressure after failing to cross above crucial resistance levels. The Nifty stayed under strong selling pressure over the past five sessions and violated key support levels on the daily charts. The range remained wider on…
READ MOREMarket Overview The markets continued to stay tentative over the past five days, trading with a weak undertone as the Nifty digested the reaction to the US election outcome. Although there were two days of a strong technical rebound, this was subsequently sold into, which kept the Nifty in a broadly defined range. The trading…
READ MOREOver the last 3-5 years, financial markets have delivered impressive returns, rewarding investors handsomely. Even portfolios that underperformed compared to benchmarks like the Sensex or Nifty likely still outpaced other asset classes. Indian stock markets posted strong gains, with Nifty 50 and Sensex delivering 11-12% annualized returns over 5 years and 15-16% over 3 years….
READ MOREThe Nifty Midcap 100 Index has recently hit an unprecedented high of 60,400 driven more by market forces than by robust corporate fundamentals. Currently, the index trades at a Price-to-Earnings (P/E) ratio above 44 — the highest level since the post-pandemic surge in midcap stocks. This P/E multiple is significantly above its 5-year and 10-year…
READ MOREThe Nifty Index experienced negative returns twice and remained nearly flat on one occasion following the last three Federal Reserve rate cut cycles. This suggests a contrarian trend in the index compared to the conventional theory that predicts a boost in equity valuations from lower interest rates. Following the 2001 rate cuts, the Nifty fell…
READ MOREThe NSE Indices Committee recently announced the September 2024 semi-annual reshuffle, affecting major indices such as the Nifty 50, Next 50, Nifty 100, and Nifty Bank. Effective September 30th, these adjustments are expected to significantly impact fund flows within the market. Two sectors, in particular, are poised for significant activity: retail and defense. In the…
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