Domestic market is running ahead of fundamentals, it may remain high in near term. They said Indian markets have traded at a much higher P/E in the past. At 19,800, Nifty is trading at above 20 times the esti- mated FY24 earnings. This is higher than the long-term PE of 16. Santosh Meena, research head, Swastika Investmart, said, "Current uptrend in Nifty is undeniably strong and there is a possibility it may surpass 20,000 mark by end of this month.
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