Nifty is trading at 21.5 times its one-year forward earnings, which is above its historical average of 20.4 times. India is being perceived as relatively expensive market compared with other emerging market peers.

Sensex today witnessed decline of 650 points or 0.79% to 81,846 and Nifty 50 fell nearly 190 points or 0.75% to 25,060 in late afternoon trade on October 4 amid weak global cues. Meanwhile, Reliance Industries Ltd shares plunged 0.

The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 25,425 level, a discount of nearly 50 points from the Nifty futures’ previous close.

On the 30-share Sensex platform, Maruti, TechM, Titan, IndusInd Bank, Tata Motors, HCLTech emerged gainers. On the down side, Bajaj Finance, NTPC, Asian Paints, M&M, Bajaj Finserv, HDFC Bank were among the losers.

Stock Market LIVE Updates | The blue-chip indices Sensex and Nifty50 erased day’s gains to drop over 700 points; Nifty 50 slips below 25,150. The blue-chip indices traded lower for the fifth consecutive session on Friday,

GIFT Nifty futures, trading around 50 points behind Nifty futures at 7:42 AM, signalled markets in India were likely to start on a slower note on Friday. The Indian stock market had bled heavily on Thursday,