In the week ended on Friday, 17 September 2021, the Sensex jumped 710.82 points or 1.22% to settle at 59,015.89. The Nifty 50 index gained 215.90 points or 1.24% to settle at 17,585.15.
Experts like Ventura Securities’ Vinit Bolinjkar, IDBI Capital’s A K Prabhakar and WealthMills Securities’ Kranthi Bathini talk about whether the markets will sustain the rally beyond the new highs or will they head for correction.
Bolinjkar said, “It is a mystery as to how long will the market rally continue. The Dow jumped 10x in a decade which was a structural bull run and one can see similarities in India as despite the pandemic, weak macro data, the economy is seeing a U-shaped recovery, the government is introducing strong reforms like the PLI scheme now which is going to be a remarkable step for several industries, so overall despite the near term volatility the rally is being backed by a lot of factors.”
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