The Calendar 2023 saw the NSE Nifty climbing 20.03 per cent and the BSE Sensex jumping 18.74 per cent. This is against a 24 per cent rise in the S&P500 index during the same period.
Despite a 18 per cent surge in 2023, Nifty is trading at a 12-month forward PE ratio of 19 times, which is at a discount to its 10-year average of 20 times.