Nithin Kamath warns India’s bull rally could be illusion driven by SIPs and leverage

Published on 5 May 2026

Weak cash turnover and outflows hint at speculation

Nithin Kamath says India’s stock market rally may not be a true, broad-based bull run. He points to weak cash turnover and negative equity inflows, arguing that gains are being powered more by SIP participation and leveraged trading. The result, he cautions, could be a market that looks bullish while speculative activity outweighs genuine investment.

Kamath says the rally may not reflect a broad bull market
Weak cash turnover and negative equity inflows are key concerns
SIPs and leveraged trading are cited as the main drivers
He warns speculation could be dominating true participation

#sip #stock market #speculation #equity inflows #nithin kamath

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Nithin Kamath warns India’s bull rally could be illusion driven by SIPs and leverage

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