The equity benchmarks continued their record setting spree on Thursday, wherein Sensex and Nifty recorded fresh all-time highs of 63,583 and 18,887, respectively.
Investors will keep a close eye on macroeconomic data such as monthly GST collection, manufacturing and services PMI, while quarterly results by big players will also be watched.
The Sensex and Nifty are poised to open lower on Monday, in line with Asian peers as interest rate hikes by the global central banks have strengthened fears of recession.
A year after the onslaught of the global pandemic, FPI inflows, corporate
performance, and news of the vaccines were key to the Indian equity markets’
immunity against Covid-19.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.