is the Sensex on a bull run?

India’s benchmark equity index, the 30-share Sensex, is on a record-breaking spree this year. The recent past saw the index regularly touching a new high with ease as it breached the 37,000-mark for the first time ever on July 26. Incidentally, the index took only 13 trading sessions to clock a 1,000 points rally while moving from 36,000 to 37,000.
Market participants attribute the current rally to a revival in earnings growth that was in the doldrums for the past few quarters due to the impact of the Goods and Services Tax and demonetisation. This is corroborated by the June quarter results of many of the large caps that beat analyst estimates and saw the stock rising significantly.
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