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The bears are scurrying to cover their short positions, indicating that the market is shedding its nervousness about the electoral outcome and anticipates political continuity
Ahead of the issue opening, the firm raised about Rs 1,176 crore in the anchor round, where Fidelity Investments, Goldman Sachs, ADIA, and Custody Bank of Japan were among the investors.
Volatility has risen in recent weeks as election fever grips the market. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey?
Several infrastructure and capital-goods stocks are trading above their 10-year average PE multiple. Yet, most fund managers are comfortable investing in them because of the underlying growth visibility in these sectors.
The Nifty Manufacturing index climbed to 13,080 intraday. It has touched new all-time highs for the past five sessions. The manufacturing index has gained 57 percent in the last 12 months.