Stocks Trading At Highest Premium To Long-Term Valuations

An unprecedented rebound from the low of March last year and a steady rise in 2021 has made Indian equities even costlier.The benchmark Nifty 50 has risen more than 12% so far this year compared with a 5% rise in the MSCI Emerging Market Index. That’s after a 15% jump in 2020, prompting even the central bank to flag a “bubble” risk.The Nifty 50 index is trading at 30.6 times its 12-month trailing earnings—a 25% premium to its five-ye...