Markets Reflect a Mix of Optimism, Caution and Curiosity

Euphoria in the stock market can be gauged easily. It’s when your local vendor suggests buying stocks, and the hot topic at family gatherings or functions is the stock market. This phenomenon has been evident since last year, sparking a crucial question: If the markets are in a phase of exhilaration, why haven’t we seen a crash? Is this time truly different? In this editorial, I aim to provide a ground-level perspective on the current state of the market. On Dalal Street, three main topics dominate discussions – the state of the equity markets, expectations for the final Union Budget for FY25 and corporate performance.