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Rising interest rates are generally good for the equities market. It is when they peak and that is where the real risk of crash comes in. I feel we are nowhere close to that and are at least a year, two years, three years away from that because we do not know how long this tightening cycle will last, says Samit Vartak, Founding Partner & CIO, SageOne Investment Advisor.

The NSE barometer, Nifty 50, on Wednesday scaled 17,500 for the first time. The benchmark index has added more than 10,000 points in a little more than 77 weeks, after hitting the lows seen on March 23, 2020.

After breaking out of a consolidation range the previous day, Nifty50 scaled the 17,600 level for the first time on Thursday.

Nifty on Thursday opened positive and touched yet another record high of 17 644 level. The bulls have been driving the index and sustaining buying interest at higher levels. The index saw the highest-ever daily close above 17,600 and settled with the gain of around 110 points. It formed a bullish candle on the daily scale and has been forming higher highs since the last three sessions.

Nifty50 on Wednesday took out the 17,500 level on a closing basis and broke out of the narrow trading range where it had been moving in the last six sessions. The index formed a bullish candle on the daily scale with no lower wick, suggesting sharp gains from the word go. Analysts said the index has potential to move towards the 17,800 level in coming days.

The domestic equity market continued to solidly outperform its global peers; and Nifty and Sensex once again surged and ended at new lifetime highs on Wednesday.

The market extended rally with strong gains with the Nifty50 surpassing 17,500 mark for the first time on September 15 as bulls charged by the government announcement of Rs 26,058 crore production linked incentive for auto sector and moratorium of four years for the payment of aggregated gross revenue (AGR) dues for telecom companies.

Amit Jain, chief strategist of Ashika Group and cofounder of Ashika Wealth Advisory, says the stock markets look overheated on ratios such as market capitalisation-to-GDP and price-to-book, although such factors may take a backseat in liquidity-driven markets.

Pankaj Pandey, Head – Research at ICICIdirect feels India is on course to reporting better than the projected 9.5 percent growth (by IMF and RBI) in FY22. However, he believes recovery pace will also be determined by impact of the third wave if any.

The domestic equity market continued to consolidate for the sixth day in a row on Tuesday, as Nifty ended the day with minor gains. The market saw a positive start to the session as Nifty opened higher and formed an intraday high point in the first hour of trade.

Nifty opened with a gap up and touched a new all-time high of 17,438. It remained consolidative for most part of the day in a range of 70 points and the bulls managed to hold it above 17,350 level. It formed a small-bodied bearish candle on the daily scale, but saw the highest ever daily close.

Nifty50 on Tuesday formed a small bearish candle on the daily chart and marked the sixth day of narrow trading moves for the index.

Nifty50 on Monday formed a Doji candle on the daily chart, suggesting indecisiveness among market participants.

Yet another day, and yet another session of a resilient performance and consolidation from the Indian equity market. In contrast to weaker global technical setup, the Indian market put up a strong show and continued to consolidate, instead of showing any corrective tendency after having a quiet start to the day.

The market recouped its early-hour losses amid rangebound trade and closed moderately lower on September 13, the first day of the week after a long weekend. On the other side, the broader market continued its uptrend with the Nifty Midcap 100 index rising 0.45 percent and Smallcap 100 index gaining 0.54 percent.