Investors cheer as nearly 90% of top-500 stocks log gains in June

Best month in terms of advance-decline ratio for Nifty 500despite headwinds such as rising covid-19 infections, India-China standof and ratings downgrade by Moody's Investors Service

June appears set to be the best month for the broader market this year. Until Friday, nearly 90 per cent of the top 500 stocks had logged gains for the month, besides around 85 per cent of the Nifty50 components made positive strides. This was despite several headwinds, such as rising Covid-19 infections, heightened tensions between India and China, and ratings downgrade by Moody’s Investors Service.

Experts said what worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.

The broader-market Nifty Smallcap 100 index is up 16 per