Markets are undervalued, with Nifty 50’s 1 year* returns at 5.92% against earnings growth of 16.13%, creating a 10.22% valuation gap. ▪ The shift from September 2024’s premium pricing to the current discounted levels reflects a pessimistic investor sentiment despite steady earnings expansion. ▪ Short-term volatility is driven by sentiment, but long-term market direction follows fundamentals practicing this can lead to make informed investment decisions.