Nifty Hits All-Time High For 4th Consecutive Week As Real Estate, Financials Surge: Goldman Sachs Report

The nifty index reached an all-time high for the fourth consecutive week, climbing 2 per cent week-on-week (w/w) as real estate and financials led the market gains with 4-6 per cent increases, according to a report released by Goldman Sachs.

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The all-time Meanwhile, the Information Technology (IT) and pharmaceutical sectors lagged, dropping by 2-3 per cent. The report highlighted that nifty has surged by 17 per cent year-to-date (YTD), while about 60 per cent of BSE200 stocks are trading at 52-week highs.

However, this figure remains below previous peaks, where 75-90 per cent of stocks reached their yearly highs. Interestingly, 40 per cent of MSCI India stocks have underperformed the index this year, suggesting pockets of laggards even amidst a market rally.

The valuation of MSCI India has soared to a peak of 24.6x next twelve months (NTM) price-toearnings (P/E), standing 2.4 standard deviations (sd) above the 10-year average.