Business
With India’s market cap to GDP ratio climbing to 1.2, valuations getting stretched
![](https://cdn.indialife.us/featured-image/migrated218100resize_1701328955_1711299864.png)
New Delhi, Nov 30
With India’s market cap touching $4 trillion and the market cap GDP ratio climbing to 1.2, valuations are getting stretched, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. But in the short run, the market is likely to move ahead of fundamentals, he added.
The market construct has turned clearly bullish aided by favourable global and domestic clues. A significant trend in the market is the comeback of Bank Nifty. FIIs turning buyers for five days in a row and DIIs buying aggressively is a strong trend that can take the Nifty past the record Nifty high of 2022 soon. The leader of the rally is likely to be banking assisted by IT, he said.
Global cues are supportive with positive news from the US market where growth is strong and inflation is trending down. India’s Q2 GDP numbers expected Thursday will be better than expected. If these good macros are supported by Thursday's exit poll results coming in tune with market expectations, a rally to record highs can happen soon, he said.
BSE Sensex is down 110 points at 66,791 points on Thursday. Tata Motors is down more than 1 per cent, ICICI Bank is down 1 per cent.
![](https://cdn.indialife.us/featured-image/image_1725719434.png?width=80&height=70&aspect_ratio=8:7)
11 hours ago
Pakistani man charged with plotting terrorist attack against Jews in New York on Oct 7 anniversary
![](https://cdn.indialife.us/featured-image/image_1725717279.png?width=80&height=70&aspect_ratio=8:7)
12 hours ago
10 Palestinians killed in Israeli bombings in Gaza
![](https://cdn.indialife.us/featured-image/image_1725716800.png?width=80&height=70&aspect_ratio=8:7)
12 hours ago
US export control measures on national security grounds draw pushback
![](https://cdn.indialife.us/featured-image/image_1725716663.png?width=80&height=70&aspect_ratio=8:7)
12 hours ago
South Korea, US held simulation drills for nuclear deterrence in Washington
![](https://cdn.indialife.us/featured-image/image_1725716576.png?width=80&height=70&aspect_ratio=8:7)
12 hours ago
Palestinian death toll in Gaza rises to 40,939: Health authorities
![](https://cdn.indialife.us/featured-image/image_1725714600.png?width=80&height=70&aspect_ratio=8:7)
12 hours ago
Key Highlights to Look for in the Upcoming Harris-Trump Presidential Debate
![](https://cdn.indialife.us/featured-image/image_1725713950.png?width=80&height=70&aspect_ratio=8:7)
13 hours ago
US, Japan, and South Korea Officials Discuss Strategies to Counter North Korean Cyber Threats
![](https://cdn.indialife.us/featured-image/image_1725713358.png?width=80&height=70&aspect_ratio=8:7)
13 hours ago
US Warns Companies of Risks to Hong Kong Operations, Equating Threat to That Faced by Chinese Firms
![](https://cdn.indialife.us/featured-image/image_1725713028.png?width=80&height=70&aspect_ratio=8:7)
13 hours ago
Amrita Hospital Introduces Kerala’s First AI-Powered Cardiac Imaging System
![](https://cdn.indialife.us/featured-image/image_1725712761.png?width=80&height=70&aspect_ratio=8:7)
13 hours ago
President Biden to Host UK PM Starmer Next Week, with Ukraine and Gaza on the Agenda
![](https://cdn.indialife.us/featured-image/image_1725712423.png?width=80&height=70&aspect_ratio=8:7)
13 hours ago
American National Killed During West Bank Protest Against Israeli Settlements
![](https://cdn.indialife.us/featured-image/image_1725711110.png?width=80&height=70&aspect_ratio=8:7)
13 hours ago
Kamala Harris' Campaign Raises $361 Million in August, Tripling Donald Trump's Fundraising
![](https://cdn.indialife.us/featured-image/image_1725707428.png?width=80&height=70&aspect_ratio=8:7)
14 hours ago
Kerala Police mulls moving HC against bail granted to actor Mukesh