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Stock correction makes the valuation attractive as the business holds promise

According to the Regional Research Reports, the Global Tiles, Sanitary Ware and Bathroom Accessories Market size was valued at a million USD in 2021 and will reach multi-million USD by 2030, at a CAGR of 10.20% from 2022 to 2030

Devang Mehta of Spark Private Wealth discusses market corrections, bullish sentiment, and the potential for a pre-election rally. He emphasizes the positive FII flows, appetite for equities, and the outlook for IT and pharma companies. Mehta further says that the corrective phase where people were scared that this is the end of the rally and probably there will be a lot more bear market type behaviour in mid and smallcaps – is not the case now.

The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.

NSE in its press release also said that Adani Wilmar, Muthoot Finance, PI Industries, Procter and Gamble Health and Hygiene Care will exit from Nifty Next 50