Indian stock Market boom

 Can any expert explain why indian stock markets are booming to new high with gdp slated for  -10% and P/E ratio of Nifty 50 already  at 39.7?

What it points to ?

1 Black money rerouted from abroad?

2 Fake growth shown to hide destruction by investing psu money like ongc lic gic etc ?

3 Unchecked profiteering by companies

4 Retail investor diverting funds from banks due to insecurity of banking and only 4.5% interest on FDs cunningly done

5 Investors expecting rabit out of hat 

6 Deliberately pumping bank money and tax concessions by business cartels to create euphoria

7 currency notes are being printed and dumped into stock markets

Its 7th year since recession in real estate sector

 

The blue chip companies have not shown much sales and PAT growth over last several years

Where all retained earnings disappear

Something is funny ।working behind curtain।