That bull at Dalal Street has been on a rampage. In the last few weeks, there has been nothing but cheer from the stock markets. The benchmark Bombay Stock Exchange Sensex has crossed the hitherto unpreceden­ted level of 31,000 and the National Stock Exchange, NIFTY, is tantalisingly close to another unprecedented level of 10,000. At the time of going to the press, the sensex was well poised at 31,145 and the NIFTY at above 9,600.