Last few years if you see the rally was supported by both earnings growth as well as the expansion in the PE ratio for the overall market. Last few years, three years, the EPS CAGR for Nifty 50 has been 24-25%, so that was the key trigger for the market rally.
Why ADRs are prone to sudden price spikes? Feroze Azeez explains
Infosys American Depository Receipts saw a significant intraday surge. Experts attribute this spike primarily to derivative strategies and options trading mechanics. While the stock closed