INSUBCONTINENT EXCLUSIVE:
Indian equity benchmarks skyrocketed in Samvat 2077 with the 30-share Sensex surging 38 per cent and Nifty 50 index climbing 40 per cent
Both the benchmarks touched record highs with Sensex crossing 60,000 and Nifty advancing above 18,000 for the first time
The surge in equities came on the back of economic recovery, vaccine breakthroughs, containment of COVID-19 cases and high global liquidity
despite a deadly second wave of Covid-19 infections which led to lockdowns in many parts of the country.The Sensex ended 257 points lower to
close at 59,772 and Nifty 50 index declined 60 points to settle at 17,829 on Wednesday."With the economic cycle picking up, we expect the
corporate earnings growth to revive as well
Markets have always moved in tandem with earnings growth
Although there would be ups and downs in-between, we expect the overall trend of the market to remain positive in Samvat 2078 as well,"
Motilal Oswal, Managing Director and CEO of Mumbai-based brokerage firm Motilal Oswal Financial Services said.Buying was visible across the
sectors in Samvat 2077 with all the sectoral indices posting tremendous returns
Nifty Realty index was top sectoral gainer with a gain of 126 per cent
Surge in Realty shares came on the back of easy liquidity conditions with banks offering home loan interest rates at all-time low levels
Nifty Metal, PSU Bank, Consumer Durables, Media and Oil - Gas indices also surged between 50-100 per cent.IndexChange (%)Nifty
Realty126Nifty Metal112Nifty PSU Bank106Nifty Smallcap 10080Nifty Consumer Durables70Nifty Midcap 10070Nifty IT64Nifty Media55Nifty Oil -
Gas53Nifty Bank38Nifty Financial Services37Nifty Auto37Nifty Private Bank28Nifty Healthcare24Nifty FMCG23Nifty Pharma18Source: National
Stock ExchangeMid- and small-cap shares outperformed their larger peers in Samvat 2077 with Nifty Midcap 100 index advancing 70 per cent and
Nifty Smallcap 100 index rising 80 per cent.Going ahead analysts expect that markets to normalize given sharp run up in Samvat
2077."Currently the market is in the zone of caution
While the economic recovery is expected to be on track, the central banks around the world are likely to start unwinding their balance sheet
expansions sooner than later
Therefore, the coming Samvat year is expected to be a year of normalization
The economic activity is likely to get normalized along with the monetary policies of the central banks across the world, as they are faced
with the challenge of balancing growth and inflation," said Mohit Ralhan, Managing Partner - Chief Investment Officer of TIW PE.