Key Points
Mutual Fund managers adopted a cautious approach while picking stocks in October amid concerns over the spike in US bond yields, heightened geopolitical uncertainty, and the rupee depreciating to its lowest level in 2023..
With the Niftys price-to-earnings (PE) ratio a valuation measure trading at a premium to long-term averages, they bought into select pharma stocks and large banks, which have not participated in the recent run-up...
The Nifty Pharma index is trading at a price-to-earnings multiple of 31, lower than its five-year average of 36..
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