Is the BSE Sensex expensive at these levels

#1
Is the BSE Sensex expensive at these levels (7000)

The 7000 level may be a big psychological level for many a market player. But, the market still appears to be reasonably valued.

The P/E of the sensex at 7000 levels is at 15.4 times.

Previous sensex P/Es during the bull run since April 2003.

At 3000 levels, sensex was valued at 14.7 times;

at 4000 levels, P/E was 15.6 times; at 5000 levels, sensex P/E was 15.11;

and at 6000 levels, P/E for the sensex was as high as 18.15 times. So, comparatively, sensex valuations sound reasonable.

Compare these P/E levels with other emerging markets and the Indian equity market is one of the cheapest across the board.
 

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