Oil price drop, valuation comfort: Time to buy in this market correction

Analysts at Jefferies say the risk-reward is now favourable for investors to start buying

The sharp correction in the markets over the past few sessions on account of global cues and developments back home have put the overall market valuation in an attractive zone and investors with a long-term view on equities can use this opportunity to buy, say brokerages. 

On a year-to-date basis, the benchmark Nifty is down around 14 per cent. Last time, it had dropped more during the period under consideration was in 2011, when the European debt crisis had dampened global investor sentiment. The index is down over 10 per cent from its record high of 12,352 on January 17.