Markets On Fire! Nifty Sensex & Bank Nifty At All-Time Highs | Key Reasons Explained!

Ashish Chaturmohta of JM Financial PMS struck a strongly bullish tone after India’s surprise 8.2% Q2 GDP print. He sees powerful consumption tailwinds from CRR cuts, GST rationalisation and income-tax relief driving credit growth and a sharp re-rating in financials, especially PSU banks (still trading at 0.8–1× book vs 2.5–2.7× for private peers). Top picks: PSU Bank BeES ETF (bought aggressively from ₹28–29, still adding at ₹95) and SBI (target ₹1,250–1,300).Other overweight themes: new-age internet (Zomato/Eternal, Paytm, Cartrade), defence (BEL, Solar Industries), capital markets (MCX, Nuvama, Aditya Birla AMC) and CDMO/CRAMS (Laurus, Neuland, Suven Life, Divi’s). Gold & silver remain must-own for portfolio allocation. Nifty target in six months: 29,000–30,000, with the rally finally broadening to mid- and small-caps.