Markets gain in May for fifth straight year

Indices gained because of net inflows of over Rs 10,000 crore from foreign portfolio investors

‘Sell in May’ is an oft-repeated adage but it does not seem to apply to Indian equities. This year, the benchmark indices, Sensex and Nifty, have risen 4.1 per cent and 3.4 per cent, respectively. 

It’s the fifth straight year when Indian equities have risen in May, belying the theory that May is a seller's market. In the past 10 years, the market has gained in six out 10 months in May, while in the past 15 years the market has been a gainer nine times in May. 

Indices this May have gained because of net inflows of over Rs 10,000 crore