Nifty, Sensex Trending Up - Weekly Closing Report
India's market cap has reached an impressive $4 trillion, reflecting a market cap to GDP ratio of 1.2, indicating stretched valuations. Despite this, short-term market movements are expected to outpace fundamentals. The recent surge to record highs has been propelled by Foreign Institutional Investors (FIIs) turning buyers for five consecutive days while Domestic Institutional Investors (DIIs) continuing their buying. Positive exit poll results further fuelled this upward momentum, creating a distinctly bullish market sentiment.
Source: moneylife.in