Historical P/E Ratio Trends
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December 2019**: Just before the COVID-19 pandemic, the Nifty 50 P/E ratio was at 28.
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May 2019**: The Nifty 50 reached its peak P/E ratio of 29.7.
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Last 10 Years**: Historically, the Nifty 50 has seen peak P/E ratios around 29 and troughs typically around 21-22.
*Current P/E Ratio
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Current P/E Ratio**: As of today, the Nifty 50 P/E ratio is 23.
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Current Nifty 50 Level: The index is trading at 24,380.
Given the current P/E of 23, the Nifty 50 appears to be trading below its historical peak P/E ratios. This suggests that there could be potential for further upward movement in the index, possibly up to around the 30,700 level (24,380 * 1.26), as it approaches historical peak valuations. However, it’s important for investors to consider other factors such as market conditions, economic indicators, and company earnings before making investment decisions.