Any change in the current capital gains tax structure in the upcoming Budget also poses a risk to the market.
Still, they believe the Indian markets would be able to tide over the current short-term uncertainty.
From their lows in June, the S&P BSE Sensex and the NiftySO have gained around 18 per cent each and have outperformed their global peers by a wide margin. The rally since then on renewed foreign investors’ participation and a resilient domestic macroeconomic situation, according to analysts at BNP Paribas, has led the Nifty50 valuation to expand to around 19.7x, which is 22 per cent above its long-term average.
This story is from the November 30, 2022 edition of Business Standard.
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This story is from the November 30, 2022 edition of Business Standard.
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