Trideep Bhattacharya in an interview to ET Now said that the markets are currently trading at fair value. Largecap indices are about 5% above their 10-year average valuation, while mid and smallcap indices are trading at a 20–30% premium. With the Nifty approaching its September 2024 highs, he feels the next upward move will need a new catalyst — likely in the form of earnings upgrades, which he expects to arrive in three to five months.
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