Markets Reflect a Beacon of Hope

Optimism in the IT industry, improvement in macroeconomic conditions and a significant FII inflow contributed to the rally

Optimism in the IT industry, improvement in macroeconomic conditions and a significant FII inflow contributed to the rally

The last fortnight has been a roller-coaster ride for Indian benchmark indices with constant climbs and declines. Nevertheless, optimism fuelled by improved macroeconomic conditions, a positive earnings outlook and a sizeable FII inflow assisted the indices end the fortnight period with considerable gains. The BSE Sensex advanced 0.25 per cent to a five-month high of 62,501, while the Nifty 50 gained 0.55 per cent in the past two weeks. The advance-decline ratio remained strongly in favour of advances for the majority of the time, exhibiting optimistic investor sentiments in broader markets.