A 99.94 record's not ruled out, but Don had a few ducks, too
Donald Bradman averages a staggering 99.94 in test matches. The next batsman is in the 60s.
His record of six consecutive test centuries remains unbroken after 87 years. Like Bradman, the Sensex has set a record by giving positive returns and hitting all-time highs in the last eight calendar years and is going strong in the ninth year.
The market moves on the 'Triveni Sangam' of Flows, Sentiments, and Fundamentals.
Domestic flows are expected to remain firm, while global flows seem to be a bit apprehensive about higher valuations. They have a choice of buying 'sundar' (a market like India which has given better returns but is trading at expensive valuations) or 'sasta' (markets like China, Brazil, South Africa, and Russia which are trading at cheap valuations). It is a difficult choice.
They will likely be a buyer at lower levels if other peers continue to perform badly on the growth or governance side. They could also be a buyer at current levels if we can convince them that quality doesn't come cheap.
Local as well as global sentiments are positive to neutral about India as not only are we doing well to emerge as the fastest-growing major economy in the world, but also our peers are scoring self-goals. In the BRICS, India stands out as Brazil, Russia, China, and South Africa are entangled in their challenges. The corporate profit-to-GDP ratio is well above the historical average and has grown in the high teens in the post-Covid period, supporting above-average equity valuations. Unlike past market rallies,
