Last few years if you see the rally was supported by both earnings growth as well as the expansion in the PE ratio for the overall market. Last few years, three years, the EPS CAGR for Nifty 50 has been 24-25%, so that was the key trigger for the market rally.
Market Wrap: Sensex falls 142 points, Nifty holds 23,900; HDFC Bank shares tumble 3%
Indian stock market closed in the red, with benchmark indices Sensex and Nifty falling up to 0.2% as Iran-US tensions simmered and rupee declined. Broader