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An extraordinary bullishness has gripped a segment of the Indian market. On Monday, the benchmark index Nifty 50 crossed 20,000, braving many negatives such as selling by Foreign Institutional Investors, high bond yields in the US and falling global liquidity.
The fund is neither a return-maximisation proposition nor a risk-optimisation proposition as it is very thinly spread among 750 stocks.
Analysts attribute this strong divergence of performance between two pockets of the market to a combination of solid corporate earnings and active participation of both local and institutional investors in the India growth story which goes well beyond bluechips.
By 9.30 am, key indices slipped in negative, as Sensex was trading 19.28 points, or 0.03 per cent to trade at 65,200.75, and Nifty50 was flat at 19,396.95.
Except for the PSU Bank index, all sectoral indices were trading in green, as Nifty IT rallied 0.87 per cent, Nifty Metal gained 0.77 per cent.