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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The economy is recovering but GDP is expected to be only slightly larger than it was in pre-pandemic 2019-20.
The NIP will help augment India’s productive capacity, contribute to our overall growth and bring down the logistics costs, improving competitiveness
Diversification is key and should be followed for stable and steady returns in the long run.
There is a need to continuously facilitate trade and industry and provide thrust to the growth promising sectors of Indian economy.