Daily Stock Market News

Sensex Today: Stock Market Highlights Today: Nifty50 falls below key support, trend


Nifty 50 has corrected more than 17% from its recent highs of 18,604, we have seen a border market correction in the last 3 months on the back of domestic as well as global issues. In Global markets, there are concerns regarding the inflation in the USA, the Russia-Ukraine war, Crude prices, etc we have seen corrections of more than 32% in NASDAQ 100 and 20% in S&P 500.

Indian markers continue to see selling pressure from the Fii’s as rate hikes in the USA market makes emerging markets less attractive for the foreign investors, along with this domestic issue like higher inflation, increase in the crude oil prices, and rate hike by RBI. Currently Nifty is trading at a price to earnings of 19.1x which is in the lower range of the last 5 years’ average and the dividend yield is also attractive at 1.5%. Along with this Nifty midcap 100 is trading at a price to earnings of 20.8x which is in the lower range of the last 5 years.

We believe that the market is in a consolidation zone now due to global as well as domestic issues but all the near negatives have been priced in the market at this point in time, valuations are attractive for the long-term investors.

Yash Gupta- Equity Research Analyst, Angel One Ltd



Read More: Sensex Today: Stock Market Highlights Today: Nifty50 falls below key support, trend

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