EW DELHI: Big Bull Rakesh Jhunjhunwala on Wednesday said the market is grappling with high valuations and is unlikely to revisit the recent highs soon.

Investors must not get disheartened by corrections, he said, adding that he sees any sharpBSE -5.00 % fall in the market only on extreme valuations. That said, he warned that PE multiples for midcap stocks are at a crazy valuation, which is “not a good sign”.

The BSE Sensex is off 6.2 per cent from its all-time high of 36,443.98 on January 29. The BSE Midcap index has fallen 9.76 per cent from its recent high of 16,532 on January 9.

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