The Nifty’s fallen 16.5% from it’s near-term high of 5700 and it’s nearly 20% from the all-time high as of Friday. The P/E has now fallen to near 18, which brings it to sane levels after a very long time. The week saw a down move of 2.7%.
Sectoral moves of the week show IT taking the biggest hit, with Auto moving up on what might be short covering. The next week will be just as volatile, though shortened with the Independence day holiday.
This kind of post goes to a weekly format. The daily post seems to have little or no interest.