The benchmark indices rallied in the last few days but there was no comeback in small and mid cap stocks. What does that tell you about the market health?
There is a liquidity surge abroad. The Fed has spoken of a soft interest rate regime for three years. About $13 trillion of liquidity is going to be pumped in and the world is coming back to a V-shaped recovery faster than India which means that export-oriented sectors of India are going to benefit. So naturally, there is a heightened buying in IT and pharma.
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