India most expensive market on forward earnings multiple

The country's Nifty 50 companies trade at a 12-month forward price to earnings multiple of 20 times

India is now the most expensive market in the world, as measured by its price-to-earnings multiple for the next one year.

Nifty 50 companies traded at a price-to-earnings (P/E) multiple of over 20 times based on calendar year 2017 dollar estimates, making India the most expensive market in the world, data collated from Bloomberg and a brokerage report showed. Benchmark Nifty and Sensex were the top performing indices year to date, behind only Mexico, with the Nifty 50 clocking a gain of 29.3 per cent.

In terms of earnings growth in constant currency terms, however, India was placed 16th when earnings for