Although nifty is massively outperforming global peers, one point that we can all notice is the massive relative strength in bank nifty compared to nifty (bnifty is closing at all time high levels or at touching distance whereas nifty is 5% below its all time highs)
Is there any particular reason which we are missing or is it just a matter of sector rotation?
bcos of lower crude and inflation i thnk
I think it is basically a sectoral rotation from IT stocks to Banking stocks due to rising interest rates
I think IT stocks are falling because of the recession fears in the West, as Indian IT stocks get most of their revenue from foreign markets.
Bank Nifty breached Previous ATHs & closed near highs.
Nifty too is catching up now. hardly 200 points for fresh ATH. but yeah, bank nifty is outperforming nifty for now.