The valuation premium was above 40% for only 1.4% of the total trading days since January 2005. The Nifty50 is now the second most expensive index among major global indices after NASDAQ. Over three out of every four constituents of the Nifty 50 trade at a premium to their respective long-term average valuations propelled by sectors such as consumer, IT and Industrial sector, a sector which typically trades at a reasonable valuation.
Contra bet? Why Rana Gupta sees opportunities in financials at many levels
Rana Gupta from Manulife Investment Management sees opportunities in the financial sector despite mid-cycle challenges. He is cautious about industrial capex driven stocks, considering them