Heading for Some Good Times

October was a great month not just because of the Diwali festivities or the BSE Sensex climbing more than 7 per cent but more so because of foreign institutional investors (FIIs) returning to the Indian markets. Nothing sparkled like banks and PSU stocks in October, so much so that the decent performance of IT stocks went almost unnoticed. The recovery in IT stocks was essential because these stocks are widely owned and good performance in IT stocks not only improves the individual portfolio values but also helps improve the mutual fund NAVs.