What's next for Nifty? 2009, 2003 market cycles offer clues
History suggests Indias 125 per cent re-rating-driven rally from March 2020 lows was similar to early market cycles of 2003 (Nifty up 91 per cent) and 2009 (Nifty up 138 per cent) where the market delivered outsized returns from depressed levels, thanks to low cost of capital.