Sensex at 74,000! A look at its journey from 1,000 in 1990 to current level
Read here: Tata Steel, Bharti Airtel & others hit 52 week high today ; Do you own any? Meanwhile, Nifty50 also hit its new record high of 22,523.65, up 49.6 points, in intra-day deals. It also hit new highs in the previous as well as today's session. The rise comes after data showing India’s GDP during the three months ending in December grew at 8.4 percent.
This is the highest among all large economies of the world. According to the India Outlook report by Crisil, released today, the country's economic progress will be supported by domestic structural reforms and cyclical factors. Crisil anticipates that India could potentially even surpass its growth prospects, aiming to become the world's third-largest economy by 2031.
This growth trajectory positions India to attain upper middle-income status by 2031, with the economy expected to double to USD 7 trillion, said ratings agency Crisil. "There are some distinct trends in the market now. One, large caps are outperforming mid and small caps.
Two, Bank Nifty is emerging stronger led by private sector majors like ICICI Bank, Axis Bank, Ind Sind Bank and Kotak Bank. Three, regulatory action on some NBFCs has impacted sentiments in the entire NBFC space, which, in turn, is improving sentiments in the high-quality private banking space. The 3.7 percent decline in the small-cap index this week when Nifty appreciated by 0.5 percent is a big underperformance.
This trend is likely to continue since valuation in the broader market remains highly elevated and the regulator has sent a clear message regarding the froth in the segment. Therefore, investors have time, even now, to switch from small caps to fairly valued large caps and partly to fixed-income products. At this stage in the
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