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A sustained bull market?

For many stocks to go up at the same time, the most important parts of the economy - construction, auto, finance, basic materials, consumer products - have to enjoy tailwinds

Topics
Real Estate  | stock market | Construction

Debashis Basu 

Debashis Basu

All over the world, the stock markets have been rising steadily since the frightening two-week crash in March. The Nifty and Sensex have risen almost 40 per cent from the bottom on March 24, which flies in the face of the bleak economic prospects we see all around. Are we in a new stealth bull market? It is indeed true that, while we are fixated on the current situation, the market looks ahead, especially when things look dire and are about to turn. Perhaps investors are enthused by the flattening of the virus transmission curve in Western Europe, East Asia, and China, even though it is raging in India and parts of Latin America, and also rising a bit in the US. The more plausible reason for the bullishness in India is the bigger, bolder and a more decisive rally in the US markets; it is empowering investors to buy Indian stocks.

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First Published: Mon, July 06 2020. 00:25 IST
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