Bad News! 5 charts show this bull market may be nearing tipping point

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MUMBAI: The domestic equity market’s once-in-a-generation rally from the lows of March 2020 is making headlines globally. India’s stock market is the best performing among large economies so far in 2021, having risen over 27 per cent. The optimism is such that pink papers are littered with predictions of the stock market’s total market capitalisation hitting $5 trillion from around $3.5 trillion currently over the next year or so. However, a glance at history suggests the bulls in this market are nearing the end of their stamina. While historical comparisons can be dodgy given the differing macro-economic environment in different market cycles, the past does also provide a reference point to the future. Brokerage firm Jefferies India in a recent report highlighted how several metrics in the stock market are suggesting that a tipping point for investors may be near. Given the fact that investors have been lulled into complacency by streaks of record highs and freak stock
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