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In focus - Nov 2022

Nifty earnings have seen a marginal upgrade
24 November 2022
    Local Market Commentary
    Download the full reportPDF, 662.02KB

    In focus - Nov 2022

    Summary

    • Equity markets in India and developed markets rose sharply in October while Emerging markets (MSCI EM) declined largely on back of China
    • S&P BSE Sensex & NSE Nifty indices were up 5.9 per cent / 5.5 per cent respectively
    • As of 31st October, 32 Nifty companies’ saw the aggregate Sales & EBITDA rising 24 per cent & 6 per cent YoY respectively while PAT declined 2 per cent YoY
    • India's headline CPI accelerated to 5 month high of 7.41 per cent in September due to higher food prices, compared to 7 per cent in August
    • Nifty continued with its up move in October increasing 5.4 per cent resulting in higher valuations as earnings growth has remained largely intact
    • On a 10-year basis, Nifty is trading at +1 STD from its historic average valuations, while on a 5-year basis it is now trading above averages

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