Markets may climb a wall of worry

THE NIFTY CLOSED 2.07% higher over the fortnight, as the nation took in stride the Pakistan-sponsored Islamic terrorism in Kashmir, the curtailment of diplomatic ties and the suspension of the 1960 Indus Waters Treaty with Pakistan.

- VK SHARMA

For the week, the Nifty rose 1.28%, while the Bank Nifty edged up 0.83%. In contrast, smallcaps and microcaps declined by 0.64% and 2.4%, respectively. While large-caps are up, small-caps have taken a beating, indicating that small investors are nervous, with the sound of war drums heightening their anxiety.