NIFTY at a record new high: What are the critical equity market numbers indicating?

https://img.etimg.com/photo/95876600.cmsNIFTY reaching a new high is an opportunity to review the past and look for signals for future market direction. Largely it is the sound recovery in large cap universe while smaller capitalization is yet to get back to previous highs. Despite the overall rise in the index the valuations still appear at much lower multiples than what they were at the previous NIFTY peak last year.

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