With the Indian Equity market relentlessly continuing with its upward journey, valuations are starting to look stretched. So is it right to still deploy money at these levels or what strategy one must follow?
The 30-share Sensex closed up 76.17 points at 30658.77, while the Nifty ended up 13.50 points at 9525.75. The market breadth, however, was negative as 1,257 shares advanced against a decline of 1,538 shares. 179 shares stayed unchanged.
To answer these question CNBC-TV18 spoke to SP Tulsian of sptulsian.com, Ashwani Gujral ashwanigujral.com, Mitessh Thakkar of mitesshthakkar.com, Mehraboon Irani Independent Market Expert and Abhimanyu Sofat of IIFL who shared their views on the way forward for the market and spoke on stock specific action.
Sofat says although valuations currently may look stretched but if earnings were to come back then valuations would start looking reasonable and the market could make newer highs going forward.According to him, one must look at spaces where there has not been action over the last couple of years -- spaces like Capital goods, infrastructure etc.