Bad breadth: Broader market continues to perform poorly

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Published: November 25, 2019 12:29:48 AM

Given the spate of downgrades after the disappointing Q2FY20 results and slim chances of earnings growth reviving in the near term, the broad markets continue to trend down.

The Nifty now trades at 22.4 times FY20 estimated earnings (File image)The Nifty now trades at 22.4 times FY20 estimated earnings (File image)

Given the spate of downgrades after the disappointing Q2FY20 results and slim chances of earnings growth reviving in the near term, the broad markets continue to trend down.

The benchmark indices continue to rise driven by a handful of stocks and now trade at exalted valuations — the Nifty now trades at 22.4 times FY20 estimated earnings, on a free-float basis and at 17.7 times estimated earnings for FY21.

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