ETMarkets Smart Talk | Nifty at 20.5x is not expensive; smallcaps are where valuations worry us: Pradeep Gupta

With the Nifty trading at around 20.5 times earnings — nearly 12% below its 10-year average — Gupta argues that the broader market is not expensive, especially at a time when corporate earnings are accelerating and upgrades are outpacing downgrades.

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