Nifty close to record high amid US debt ceiling talks. Will it climb to a new peak?4 min read 16 May 2023, 12:23 PM IST
Stock market today: Nifty today is less than 3% away from it life-time high of 18,887.60 levels, which it achieved in December 2022
Indian stock market is trading sideways today, which might have put doubts into the mind of smart investors as Nifty and other key benchmark indices have retraced heavily every time they came close to record high in 2023. Nifty today is near 500 points away from its life time high of 18,887.60 levels but if we look at the Nifty 50 index in YTD, the 50-stock index came close to its current life-time high on four occasions (in first week of January, last week of January, mid February and second week of March) and on all these occasions, Nifty crashed from close to its record high. However, solace for such stock market investors is Bank Nifty hitting record high on Monday and hence a section of those doubtful but smart investor is soon expecting trend reversal on Dalal Street.
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