Are they suckers?

Diwali is the first day of the business new year and, even though it is a public holiday, it is considered auspicious to trade on the markets on that day. This is called 'muhurat (an auspicious time) trading' (rekhta dictionary). Both the indices finished higher. "The S&P BSE Sensex was up 335.06 to 79,724.12, while the NSE Nifty50 settled 94.20 points higher at 24,299.55." Auto, realty and power sectors were up 1% each. India Today. When markets climb to record levels some people make enormous gains. "Through this October, Dalal Street presented a sharp study in contrasts - lofty records," as "foreign investors pulled Rs 1 trillion out of Indian equities in October, beating the record in the Covid-ravaged March of 2020 with consummate ease." But this was more than matched by domestic funds (DII) investing a record amount. ET. "Repatriation of dividend income, profits and reinvested earnings by overseas portfolio investors, private equity firms and companies operating locally totalled $12.2 billion in the April-June quarter, more than double what they did five years ago," and "Total investment income outflows have almost doubled to $21.6 billion from $11 billion in April-June of 2019." ET. Foreign investors were also helped by a relatively stronger rupee by getting more dollars in exchange. "The RBI's relentless intervention has helped the rupee. The central bank has sold dollars on almost all days in the last two weeks, not allowing the rupee to fall and dampening volatility." Even as foreign investors net sold $11 billion of Indian equities in October. ET. Despite the downturn in October, the Indian frontline indices concluded Samvat 2080 with over 25% gains." Samvat is a Hindu lunisolar calendar. wikipedia. "Amid strong interest from retail investors, 336 companies have made their stock market debuts in Samvat 2080, with 248, or 74%, coming from the SME (small and medium enterprises) segment, according to Trndlyne data. Nearly 100 of these IPOs have launched with listing gains exceeding 50%, while 132 saw subscription rates surpassing 100%," and "163 IPOs are currently trading above their issue prices." Mint. Also, "With the capital markets at historic highs, startup IPOs are seen as exciting new opportunities in companies that could represent a new way of doing business." But, "IPO over-subscription of 100 times to 200 times should not be taken as a ringing endorsement of the company's fundamentals." Because, "As an investor, it can be hard to avoid the fear of missing out," wrote Abhishek Mukherjee. "Historically, IPOs have typically been seen as a way for companies to sell the public new shares in order to raise money to finance new investments and expand their business." But now, IPOs are an avenue to provide a profitable exit to venture capitalists and private equity investors, wrote Vivek Kaul. Foreign investors, venture capitalists and promoters are certainly making huge profits. But, what about retail investors? Are they confirming that "There's a sucker born every minute?" (wikipedia).