India's NSE Nifty 200 'buy' rating drops to 61, lowest in a decade, due to cautious earnings outlook and rising valuations.
India's $5 trillion equity market is seeing a significant decline in stocks with a 'buy' rating, dropping to 61 on the NSE Nifty 200 index, the lowest in a decade. This is attributed to a cautious outlook on corporate earnings and rising valuations, with the index valued at 24 times its forward earnings estimates. Over two-thirds of stocks now hold a 'hold' recommendation, reflecting investor caution despite strong foreign investment in the market.
September 25, 2024
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