 "Correction fails to rein in expensive market valuation: Fund managers")
The Indian markets have seen double-digit correction from their all-time highs. However, valuations continue to remain in the expensive zone and further corrections cannot be ruled out, say the country’s top money managers.
While the Nifty price-to-earnings (P/E) multiple has come down from its lofty levels of around 28x in October 2021, it continues to remain above the historical average. Currently, the Nifty trades at around 21.5x its estimated 12-month forward earnings, compared to the long-term average of 17x.
Stocks continue to remain vulnerable to headwinds, such as flare-up in geopolitical tensions due to war between Russia and Ukraine, crude oil price
