Nifty valuation undoubtedly challenging: Chris Wood of Jefferies

“If Asia looks better in aggregate on comparative valuations, there is one market where valuations are undoubtedly challenging. That is GREED & fear’s long-term favourite, India. The Nifty index now trades at 18.8x 12-month forward earnings, compared with a historic 10-year average of 17.2x,” Wood said in his weekly note.

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