Nifty has been in a range of 15,300 on the lower side and 18,700 on the higher side during last twenty months. Level of 18,700 is an all – time high for Nifty. During this period, the broad-based Nifty 500 index has also shown a similar pattern in its behaviour.
In these twenty months they have fallen by about 15% to hit their respective lows for the period. This percentage fall is par for the course, in line with its exhibited volatility in the past. What is, however, noteworthy here is that they are just about 6% off their all time highs.
During this period of twenty months, markets have been confronted with many worrisome events and economic news.
The Russia – Ukraine war which is completing a year shortly, higher interest rate scenario amid rising inflation , the Adani report from Hindenburg and falling U.S. equity markets have kept the investor sentiment jittery all along. In the past more often than not markets fall after the budget event. They have not done so till now although nine days have gone by.
All this points to a resilient market. The markets are looking for some good news and developments as a trigger to undertake their journey into the next higher orbit.
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