© Simply 3 Capital
© Simply 3 Capital
Nifty valuation, though corrected, still appears vulnerable close to its 10-year average
BofA has remained cautious on the Indian markets and has cited five reasons for its stance. These are: Fast tightening monetary conditions, slowing growth/fears of US recession, earnings cuts, prices of crude oil and valuations. According to the brokerage, most of the above negative events are either likely to play out over the next two-three months or more clarity will emerge on these fronts. Pricing in of these negatives could lead the markets to bottom by August-September, as per Bofa.
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