Many stocks are currently trading at high price-to-earnings (PE) multiples, but recent market corrections have reduced some of the excess.

At present, there are 181 stocks in the BSE 500 index that have a PE multiple exceeding 50, which is a decrease from almost 50% of the index a month ago.

It is important to carefully select sectors and stocks for sustainable wealth creation, even though some high valuations are supported by growth expectations.

The automobile sector is seen as having a promising outlook despite recent slowdowns.

Kotak AMC's latest New Fund Offer (NFO) focuses on transportation and logistics, where valuations are perceived to be lower than their long-term averages.

Opportunities still exist across various sectors despite the current market challenges.