'Valuation in equity markets attractive'

Mumbai, Jan 22: ED of UBS Securities Manishi Raychaudhuri feels that the valuations in equity markets in India are attractive; but correction was certainly not anticipated.

Dealers are trading around 16.2 times one-year forward earnings. The pace of the correction was certainly not anticipated, he told UNI. The market is offering good value for medium and long-term investors, he added. Most investors have not had time to react in the last two days, he feels. The correction will attract more investors as fundamentals are intact, Mr Raychaudhuri added.

UNI