Showstopper Nifty unlikely to outperform in 2023, warns Credit Suisse top strategist Neelkanth Mishra
Having scaled new lifetime peaks and now eyeing Mt 19K, Nifty is by no means cheap. The 12-month trailing PE for Nifty stood at 23.4x, 17% higher than its long term average. India’s market capitalisation-to-GDP ratio now stands at 110% (of FY23E GDP), above its long-term average of 81%.
