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

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