BUSINESS-ECONOMY
The bull run in Indian stocks shows no signs of abating. Benchmark indices breached fresh records for the third straight session and eye new milestones. The bull run in Indian stocks shows no signs of abating. Benchmark indices breached fresh records for the third straight session and eye new milestones. The blue-chip Sensex index opened at a record high and surged further to hit a fresh all-time high of 80,898. The broader nifty 50 index also opened & closed at a new record. During the session, the index reached a new all-time high of 24,600. Both benchmarks closed at fresh records. The turnaround since the election results day's nearly 400 billion dollar loss has been significant. Indian indices are already trading well over their year-end targets and eyeing new milestones. The Sensex is about 100 odd points away from the 81,000 mark, and the nifty is eyeing the 25,000 points level. The nifty index has set some kind of a record in 25 of 27 sessions since June 7th. Investors positioning themselves for broad budget reforms are driving the climb in the share market with repeated new highs. Apart from profit booking, differing views over the budget have also caused high volatility at these record levels. The rate of surge in Indian stocks implies that a disappointing budget will cause a more significant correction, similar to how the markets behaved on election day. For now, though, the trend in Indian stocks is records, new records and more records. None
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