Making Sense Of India’s Bull Market

NEW DELHI: For the last few weeks, the Indian stock markets have been on a tear. The Sensex has progressively logged new peaks. Similarly, the other index, Nifty, too has been outperforming itself.
India’s investor base grew by a fifth to 8.5 crore in December 2023. This prompted Uday Kotak, the former big boss of Kotak Bank, to forecast that India was transforming from being a nation of savers to investors.
What does one make of all this? Is it a speculative bull run? Is it driven by foreign investors, desperate to get a piece of the Indian action? Or is it all about new beginnings?
To answer all this and more I spoke to Somnath Mukherjee, Managing Partner at ASK Wealth Advisors.