Both the Nifty and Sensex rallied to record highs last week amid volatility

The comfortable win for the BJP in both Himachal Pradesh and Gujarat elections boosted the market early in the week. Subsequently, the benchmark indices picked up momentum and continued to move higher with reduced volatility. Both the Nifty and Sensex closed at record highs, in a classic “Santa Claus rally”. That said, the truncated week, along with December derivatives expiry, can usher choppine...