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The Equitymaster Research Digest

Nifty 10,000 Today, Sensex 40,000 Tomorrow?
Jul 25, 2017

  • Nifty scales mount 10K
  • How much longer for Sensex 40,000?
  • Apurva's trading challenge!
  • Tanushree's StockSelect recommendation - The next HDFC Bank

It finally happened. The Nifty traded above 10,000 for the first time this morning. Today's intraday high was 10,011.30. It ended the day flat.

There's only one thought on everyone's minds. Is this a peak? Can this level hold?

My answers to these two questions are No and Yes respectively. I would like to discuss this today and tomorrow.

The Nifty hit 10K today but consider this. The index first hit 9,000 in March 2015. It's up about 11% in the last two years and four months. That's just about 4.6% annualised.

Now, this isn't much of an achievement. Even a savings account gives 4% interest. That's why I believe, we haven't seen big celebrations on Dalal Street. Everyone seems to understand that 10,000 is just a number.

They're right.

We still have some way to go before this bull market ends.

Our Sensex 40,000 call implies a Nifty level of about 12,375. Already, brokerages are predicting Nifty 12,000. Dalal Street is warming up to the idea of Sensex 40,000.

Remember, you heard it here first.

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