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“Our valuations are undoubtedly above average but our profit-to-GDP ratio is also more than above average. It is not that there is a big bubble but the road definitely is downward sloping,” Shah says. Excerpts:
As many as 70 stocks with more than ₹1,000 crore in market capitalisation have declined between 15% and 50% in the last five trading sessions while another 250 stocks have dropped 10-15% during this period.
AMFI-SEBI mandated stress test and recent regulatory glare is weighing on the market sentiment in mid and smallcap category. Over 80 percent shares from the smallcap index are in the red since February 19.
The BSE Sensex on Tuesday edged up 486 pts at 73988 in the opening session following gains in Financial services, IT and Bankex stocks.
SEBI said an optional T+0 settlement will be introduced from the end of March, providing an opportunity for investors to settle their stock market trades on the same day.