India's Bull market has entered final lap, says Ambit Capital

The benchmark Sensex gained 28% in 2017. So far this month, it has risen another 5%

The Indian market has been adding to last year’s stellar gains but the frenzy may not last long, said Ambit Capital in a report titled Here comes the final frenzy. 

The domestic brokerage has spotted three tell-tale signs that signal an end to the rally — the pause in the rally seen at the fag-end of 2016; further spike in financial stocks, the torch-bearers of the recent rally and a sharp shoot-up in market valuations above historical levels.

“The current Indian bull market is all set for a final frenzy given: Post the “pause” in the closing months of 2016, the market