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Below is quote on Market scales at 56K mark By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

"The market has been consistently surprising even the incorrigible optimists by setting new records. The Sensex has scaled the 56000 mark this morning. It is interesting to note that the Sensex has multiplied 560 times since its inception with 1979 as the base year.  By averaging around 15% CAGR during the last 42 years, Sensex has rewarded long-term investors handsomely. However, the journey of the market has been volatile with sharp ups and downs unnerving the short-term investors and traders. The future would be no different.

The present bull run primarily driven by the new retail investors is in an overbought, richly valued zone. This year metal index has been the outperformer with Nifty Metal Index leading with 76 % return followed by the Nifty IT Index with 38% return. But it is important to remember that even sectors with good earnings visibility, like IT and metals, are highly valued. Therefore, even while remaining invested in this bull market, investors have to be cautious while committing fresh funds"