Weekly Markets Action

Weekly Markets Action

The Indian stock market registered a solid comeback since hitting rock-bottom in March. The week, benchmark indices managed to form a new four-month high despite rising COVID-19 infections and global growth worries ahead.

Global liquidity following stimulus packages from central banks worldwide, progress in the development of a vaccine along with record retail participation has kept the party going for the bulls. Experts feel that the market is also discounting a full economic recovery by FY22 given the June quarter earnings season which was supposed to be washout one but a majority of leaders from several sectors reported a good set of earnings.

BSE Sensex and Nifty50 have rallied close to 50 percent from March 23, and the same pattern was also seen in Midcap and Smallcap indices. Globally, too, equity markets are either near 52-week high or are close to an all-time high.

Nifty Chart

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