Gold prices rose on rate cut expectations but fell due to a strong US nonfarm payroll report. The Dollar Index strengthened. Traders shifted rate cut expectations. Market awaits the US Federal Reserve’s decision. China’s Central Bank paused gold buying due to high prices.
Is Nifty expensive? Why judge today’s valuations through yesterday’s lens, asks Pankaj Pandey
ICICI Direct’s Pankaj Pandey believes India’s Nifty has structurally transformed, making historical valuation comparisons obsolete. He suggests current valuations, though seemingly rich at 20x FY27