Sensex, Nifty hit all-time high. But it's not a bull market yet
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The Sensex blasted past 86,000 for the first time on Thursday, touching 86,026, while the Nifty surged to 26,246.65—shattering records last set on September 27, 2024. But strip away the index veneer, and the picture turns grim: almost half of Nifty50 stocks haven't even touched their all-time highs this year, exposing a dangerously narrow rally propped up by a handful of largecap heavyweights. The carnage beneath the surface is severe. Trent shares have cratered 40 percent year-to-date and would need to nearly double just to reclaim their October 2024 peak. TCS is down 23 percent. Wipro, Tech Mahindra, Power Grid, Infosys, IndusInd Bank, HCL Tech, and Dr Reddy's are all stuck in double-digit losses for 2025—even as the Sensex and Nifty post 10 percent gains this calendar year. Altogether, 23 Nifty stocks are languishing at least 10 percent below their all-time highs. In the broader market, the damage is worse: the BSE Smallcap ind...