Market participant will now be clued on to the announcements and news flow from the newly formed Government and act upon it. Some of the sectors like Power, infrastructure will be the pockets where the rally is likely to continue.
If one looks at Sensex PE, we are currently trading at a little over 15 times forward earnings, which is in line with long term averages, hence we are not very overvalued. So, there is still some room for largecaps. However, the spotlight moves to broader markets now.
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