As indices hit all-time high levels, many investors have wondered if we are in for a correction or there is more steam left. While markets can always fall, long-term investors focus on the fundamental factors.
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MUMBAI: After three-and-a-half months of ping-ponging in a 1,300-point range, the Nifty50 index finally broke out of its shackles this week to hit a fresh lifetime high, as risk appetite among investors continued to improve with the Covid-19 situation in the country.
The feat was achieved with the help of continued rally in the financial services stocks, which is a sign that investors are less concerned about the fate of the economy than they were a few weeks ago. While the Nifty Bank index is still some way off its lifetime high, recent commentaries by the likes of State Bank of India have given the market confidence.