Historical moment on the bourses as Nifty breaches the 10k mark to the delight of investors but retraced from those levels but markets looking good despite the dream run as most companies have reported good numbers this quarter. Great going since 2008 when Nifty had fallen to 2500 levels during the global financial meltdown and today’s 10K levels is an multi-fold gain in not just nifty but most blue chip names in the market.
10K on Nifty was an psychological barrier and while stocks may be overbought and fully priced at these levels, people can still make money as the India story of mass consumption and potential of being a global leader is still intact. Half the population is still without their own roof, education needs penetration, medicine and insurance could be in big demand and there are endless opportunities and ideas still available to make big bucks in the market.
(The views expressed by the author in the article are his/her own.)