Market at all-time high: Nifty finally managed to cross its previous highs Says Mr. Siddhartha Khemka, MOFSL
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Below Quote on 'Market at all-time high' by Mr. Siddhartha Khemka, Head of Retail Research, Broking and Distribution, MOFSL
After making several attempts in the past few days, Nifty finally managed to cross its previous highs. Strong institutional flows, healthy macros and robust earnings growth drove domestic market towards its new highs. Even the current valuations are reasonable at 19x one-year forward PE which at previous peak had touched a high of 24x. With monsoon kicking in and RBI taken a rate pause, the strong momentum in earnings is likely to continue. Thus at current valuations, market is expected to continue its upmove and remain buoyant.”
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