and what is driving the rally this time
Four months after it fell off the mark and five months after it firsttouched it, the Sensex is back at 12,000. Time to rejoice that all'swell with the world? Not really, if you take a close look at theunderpinnings of the rally that has taken the index back tostratospheric levels. The present rally appears to be selective interms of the participating stocks, and the market has turneddiscriminating in the mid- and small-cap spaces. There has been avirtual shake-out among the mid-caps that were in the vanguard of thelast rally till May. Ditto for the small-cap stocks, where, again, theparticipation has been minimal in this rally
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