With the huge drop in indexes, the market had lost over 8% in a week, and has recovered 1.75% today. The P/E is now at 18.56 and volumes are at 12,000 crores, which isn’t still a great sign of confidence.
Sectorally, on the other hand, we’ve had a tough August for everyone. Yet, the surprise is in that banks aren’t doing as badly as IT or Real estate. FMCG and Nifty Junior have done remarkably well in comparison to the index. But everything is down.