While FY21 was the worst year for the economy since Independence, it was the best-ever for equity investors. The Nifty 50 rose over 100% even though India’s GDP growth shrunk to a negative 7.3% during the period. So, how have the benchmark indices performed so well despite the dismal state of economic recovery and what is the road ahead?
Many would like to forget it as a bad dream. The nightmarish stock-market crash on March 12, 2020 had created panic among investors. The Sensex was down 2919.26 points or-8.18%, while the Nifty-50 witnessed a slide of 868.25 points or -8.30%, as the World Health Organization declared the Covid-19 outbreak as a “pandemic”. But a resilient equities market has put up a brave front since then. So much so that both Sensex and Nifty have more than
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