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Premium: How Markets Have Performed At Different P/E Ranges

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It's interesting to see how P/E ranges impact longer term returns. If you look at a Price to Earnings Ratio (P/E) independent of anything else, it's not very useful - because the earnings growth might actually be spectacularly high, or expected to be. The Nifty is now at a P/E of 23. This is high, but still below highs of 2015/16 where we saw it beyond 24. If, in the past, you had held the Nifty when it was at a P/E of 23, then you would see:

• Average . . .

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