More steam in the rally
On Friday, the benchmark Nifty gained for a seventh consecutive trading session, its longest winning streak in two and a half years. The Nifty has gained nearly three per cent since November 15. The rally has been accompanied by a drop in the India VIX index, from 14.3 to 13.5. Derivatives experts say a lower reading on the VIX index means the rally has more legs. The decline in the volatility gauge indicates traders don’t see any immediate risk to the market, says an analyst.