ETMarkets Smart Talk: Markets enter 2025 with caution – Vikram Kasat sets 12-month Nifty target at 27,212

The Indian market has entered 2025 with a sense of caution, reflecting both domestic and global uncertainties. PL values NIFTY at a 2.5% discount to the 15-year average PE, which is 18.5x compared to the average 19.0x.