Receding fear, positive growth cues and lower valuation premium to EMs pushing Indian stocks into optimism zone
Banking crisis in the US raised the spectre of accelerating the most widely anticipated recession in the US, thereby, raising concerns on domestic growth outlook for India as well. Market price fall triggered by the fear of the unknown resulted in NIFTY50 P/E valuation premium over MSCI EM index reverting closer to the long-term median of ~45% during Mar’23.