Indian equity market remains among the most expensive globally, shows data

Sensex P/E of 26.3x is nearly twice MSCI EM's P/E and 40% higher than Dow Jones

The Indian equity market remains among the most expensive globally despite the recent correction in stock prices. The Sensex is currently trading at a trailing price-to-earnings (P/E) multiple of 26.3x -- nearly twice the MSCI Emerging Market's P/E of 13.9X and around 40 per cent higher than Dow Jones' 19.1x. Only the tech-heavy Nasdaq Composite is more expensive at a P/E multiple of 116.6x, according to the data from Bloomberg.

The stock valuation in India is also on the higher side when compared with other major markets in Asia and developed markets in Europe. For example, Indonesia's benchmark index is currently