The Super-Awesome Raghuram Rajan effect on the market continues. Just kidding – he started what seems to be a pretty sharp move up – three trading days and 8% on the Nifty, probably the fastest ever!
Following banks now are Infra and FMCG, but nothing else has gained more than the Nifty. Auto which was a laggard till yesterday. IT has also bounced since.
(See also: The Rajan Impact on Sectors As Of Last Friday)
The Junior and Midcap indexes haven’t gone as far up, which probably means retail investors are missing out on the big rally. But given that many traders were short, some of this could even be short covering (a bit more of “fear” than “greed”).