Despite a 18 per cent surge in 2023, Nifty is trading at a 12-month forward PE ratio of 19 times, which is at a discount to its 10-year average of 20 times.
The benchmark Nifty50 is expected to scale 21,000-mark by the next Diwali, according to over 56% of the 16 respondents who participated in the survey conducted by ETMarkets on what the new year for Dalal Street will look like.
Vivek Goel likes the banking segment given the valuations are still reasonable with good credit growth, but the pressure on NIMs is impacting performance outlook in near term.
Share Market Highlights 16 October 2023: Sensex sheds 115 pts, Nifty closes below 19,750; Hero MotoCorp, JSW Steel major gainers thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.