A rising tide

Govt should revive disinvestment

The stock market indices have hit record highs in the past few days and it’s been a broad movement. The small-cap and mid-cap indices hit new highs first, and the Sensex and Nifty followed. The Sensex on Monday closed above 65,000 for the first time. The benchmark Nifty has gained 21.8 per cent in the past 12 months and the mid-caps and small-caps have moved up 34.5 per cent and 30 per cent, respectively. The surge in the past three months has been largely driven by foreign portfolio investors (FPIs), who have bought over Rs 1.14 trillion of equity in