Banks Lead but Mood Remains Indifferent

Last Thursday, the main indices, Nifty and Sensex, hit a fresh all-time high along with Bank Nifty. Did we hear people rejoice? No. Surprising, right? Such an event should ideally have investors popping the cork on the bubbly but there certainly was no celebration in the market, as highlighted in our last week’s editorial titled ‘Despite All-Time Highs, Euphoria Remains Elusive.’ The Nifty is down by 1.08 per cent from last Thursday’s close to this Thursday close. Meanwhile, Bank Nifty has been resilient as it has outperformed the Nifty by a wide margin.