Nifty Bull Market

The NSE Nifty topped the 24,300-level, and was up 350 points following BJP-led Mahayuti alliance landslide victory in Maharashtra elections. Index heavyweights SBI and RIL were the top gainers so far.

The NSE Nifty had hit 58 record highs in calendar year 2021. Additionally, the index has rallied on an average 27% from its calendar year lows in the last 5 years; and is up 21% thus far this year.

Broader markets, too, displayed strength as Nifty Midcap 100, and Nifty Smallcap 100 indices surged up to 1.1 per cent during this period

The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.

With the benefit of hindsight, India's stealth bull market is underpinned by some strong positives. The most important of these is earnings growth across different sectors

Analysts believe that the improvement in global sentiment on the back of consumer resiliency and peaking inflation brought cheer back to the Dalal Street.

The nation's NSE Nifty 50 Index is among Asia's top gainers this month, beating the regional benchmark by about 4 percentage points

It is too early to judge if this is a big trend reversal or merely a short-term correction