Was it the vaccine news? Or is there some other news that I missed? Because the balance sheets are not reflecting the market. For example, Bajfin last quarter results are almost similar to their Dec 2018 results. But at that time their share price was in mid 2k. Let me know if this is not the correct way to look the market (I am a noob haha). Cheers!
In my view this rally is purely liquidity driven …flow of funds in market . About 1.2 million new investors opened demat accounts with the Central Depository Services (CDSL) alone in March and April. About 6.18 lakh new demat accounts were opened in CDSL in March and another 6 lakh in April.
In a span of three months, Indian brokerages have added over 24 lakh new demat account holders in the quarter to June 2020. That is like 10 per cent of the total account holders
Buy on Rumours Sell on news !!
interpreting market behaviour is hard, it has mood of its own… well, not really, with mood of market I mean the FII and DII they move the markets and it is hard to pinpoint the exact reason.
there has been good news regarding vaccine, both Pfizer and Moderna have shown good results, plus government has announced stimulus, there’s also this us election, so to take a guess it is all this news that seems to be driving the market’s but again it’s hard to pinpoint the exact reason.
many factors are affecting ,joe biden won the results and he is going to increase taxes
also india china tension is almost about to end ,
govt stimulus etc
So at the end of the day, we are at the mercy of FIIs and DIIs. 
Do you think these reasons are worth breaking February’s high? Or is the market not an optimal indicator of the economy and should be analysed on its own?
10%!!! Didn’t know that. Interesting. In comparison, the whole year of 2016 saw new 24 lakh accounts. Definitely can be the reason.
it is this big money that drives the markets… so yeah we are at the mercy of institutions.
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