The Indian equity benchmarks sky rocketed 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.”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.
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