NSE Nifty surges 73% rise in 8 months despite pandemic
Indian markets have been trading strong over the last few weeks and investors have witnessed enormous wealth creation in some blue-chip stocks. NSE Nifty and BSE Sensex touched all-time high in today’s session as well.
Despite pandemic, investors are confident about well-performing Indian companies. IT stocks have been among the biggest gainers in the Indian markets, followed by pharmaceutical, finance and automobile stocks.
Investors have forgotten about the bloodbath witnessed during March 2020 when indices witnessed one of their steepest declines. The stocks market has not only recovered quickly but has touched new highs over the last few weeks.
Commenting on the rise in Indian markets, Hemang Jani, Head - Equity Strategy-Broking & Distribution at Motilal Oswal Financial Services said, "Indian indices opened on record-high levels on Tuesday, tracking gains in Asian peers, on the back of the progress made on the COVID-19 vaccine and the prospects of a speedy global economic revival."
Markets are still looking strong. Foreign fund flows have led some stocks to their 52-week and all-time highs. Market experts are expecting further rise in Indian equities.