ETMarkets Smart Talk: This CIO is cautious about current market valuations; prefers financials, capex sectors
“While some of the earlier feared risks of very high crude oil prices, a sharper depreciation in the rupee and therefore a persistently high inflation, are now receding, the risk of earnings downgrades from the present consensus Nifty 50 earnings estimates of 14% (already cut from 15-16% a few months ago) for the 2 years of Fy22-24, to further lower levels of 12-13% or so continues to exist.”
