Market outlook: Nifty50 index may be on course for the 11,400 level

What is the reason for divergent performance of large and mid-cap indices?

The markets opened in positive territory on Thursday, with the Sensex breaching the 37,000 mark for the first time ever in early trade. On the National Stock Exchange (NSE), the Nifty50 index, too crossed its previous record high to scale a fresh high of 11,179.60 levels in intra-day trade.

We had stuck our neck out at the beginning of the month and said that the markets will reach a new high before the Independence Day.

However, the usual bonhomie associated with a new high, is missing. The discordant note of the markets can be gauged from the fact that a day after