After the market rebounded sharply from its June lows, analysts warned investors as Nifty’s valuation premium rose above 10% to reach its 10-year historical average.
Markets | Clever | Foreign portfolio investors
Sundar Sethuraman |
Last updated on Aug 16, 2022 00:56 IST
The Nifty50 index has increased its gains in seven of the past eight weeks, climbing 2,405 points, or 15.7%, over that period. The benchmark gauge last closed at 17,698. Although the momentum appears to be lasting, the Nifty is now heading towards a key resistance zone over 17,700 levels. This could lead to a pullback due to traders taking profits, analysts observe.
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First published: Tuesday, August 16, 2022. 00:56 IST