Bull Market
A sustained period of rising prices, conventionally marked by a rise of 20% or more from a low.
Formula
Test: the index has risen 20% or more from its prior trough, without an intervening 20% decline
Unit
%
In depth
The 20% threshold is a convention with no analytical basis, and it is applied retrospectively — a bull market is declared once the rise has already happened, which limits its usefulness for anything other than description. Bull markets last considerably longer than bear markets on average, which is why the long-run direction of equity indices is upward. The behavioural pattern is consistent: participation broadens, leverage rises, and confidence peaks near the end. Nothing about identifying a bull market indicates how long it will continue, and this dictionary makes no such claim.
Worked example
An index rising from 16,000 to 24,000 is up 50%, comfortably a bull market by the convention. The label was earned at 19,200 and says nothing about whether 24,000 is early or late in the move.
Illustrative figures, chosen so the arithmetic is easy to follow. Not a live price and not a valuation of any company.
Educational reference only
This entry explains what “Bull Market” means. It is not investment advice and not a recommendation to buy or sell any security. Any numbers above are illustrative, not live prices, and nothing here predicts price direction or rates a stock. Consider your own circumstances and consult a SEBI-registered investment adviser before acting.