Benchmark indices like the nSE nifty 50 and the S&P BSE Sensex are scaling new record highs every week. You may think that you have missed the opportunity.
That could prompt you to wait for a correction to time the market. However, that is a tricky idea. If you waited the entire 2024 for the right opportunity, holding more cash in your bank deposits than equity assets, you could feel worse than just fear of missing out or FOMO.
The nifty and Sensex are among the best-performing stock market indices in the world in 2024. There is no sight of any event that could trigger a correction. That is despite everyone accepting that there are geo-political tensions due to global conflicts. There are signs of a slowdown in Europe. While the US economy is strong and inflation is controlled, job growth is slowing. In India, an analysis in the latest bulletin published by the national Stock Exchange of non-banking nifty 50 companies’ financial results for the quarter ended June 2024 showed that the operating profit growth for nifty 50 companies slowed at a pace last seen five years ago.
Unabated rally
This story is from the September 23, 2024 edition of The Morning Standard.
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This story is from the September 23, 2024 edition of The Morning Standard.
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