The benchmark indices have corrected sharply from their record highs but valuations still remain expensive. The Sensex is currently trading at 17.6 times its one-year forward estimated earnings.
Correction fails to rein in expensive market valuation, say analysts
Analysts however believe looking at Nifty valuations could be misleading as several of its components trade far below their long-term averages
 "Correction fails to rein in expensive market valuation, say analysts")
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