Nifty May Be Expensive But There's Still Value Left If You Dig Deeper

For Nifty, the past year has been a tale of two halves. From July to December, the index lost more than 2 percent as demonetisation jitters rattled the bulls. However, the loss was more than compensated in the past six months with the index growing by over 17 percent.

Markets in the past one month appear to have entered the zone of consolidation and several experts opine that “markets have run up too fast” and there is very little comfort on valuation.

Going by the headline number that’s not totally untrue, at 20x FY18 Nifty earnings, valuation does look a tad expensive.

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