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Markets posts fifth straight quarterly gain, indices hit lifetime highs

FPI flows took a hit during the quarter. However, retail buying and domestic mutual funds more than compensated

BSE Sensex, Open market trade
Sundar Sethuraman Mumbai
1 min read Last Updated : Jul 01 2021 | 1:30 AM IST
Domestic equity markets have delivered positive returns for five quarters in a row—longest winning streak since 2014-15 when they had gained for six quarters on a trot. During the quarter ended June 2021, the Sensex and the Nifty gained 6 per cent and 7 per cent, respectively and made new lifetime highs. The broad-market mid- and small-cap indices outperformed. The start of the quarter was turbulent as a lethal second wave of Covid-19 infections saw domestic markets come off nearly 7 per cent from its February highs. However, the correction was short-lived as aggressive stimulus measures by global central banks helped markets make positive strides. Optimism that the spike in inflation was transitory and ramping up of vaccination programmes also kept the mood buoyant. Foreign portfolio investor (FPI) flows took a hit during the quarter. However, retail buying and domestic mutual funds more than made up for it.

 

Topics :Markets Trade Warstock market rally

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