Sensex leaps in spite of the continued threat of increasing Covid-19 cases
Published On: Tuesday, March 30, 2021 | By: Team KnowMyStock
Buying in consumer-focused and energy stocks today(30th March 2021) lifted benchmark indices in spite of the continued threat of increasing Covid-19 cases and rising bond yields put pressure on investors. Indian markets also appear to be unscathed from a hedge fund blowup in the US. A sharp decline in FII selling coupled with large buying by DIIs can support the market and even take it higher, said an analyst. The major factors for the rally in the markets are: 1. Fed remains dovish: The Federal Reserve is "a long way from raising interest rates at this point", Governor Christopher Waller said on Monday, reinforcing hopes that the central bank is ready to remain dovish as long as virus woes linger. 2. Factory activity in China: China's factory activity was expected to have grown at a faster pace in March, a Reuters poll showed.
3. Year-end MF buying: Analysts believe that in the remaining couple of days of the current fiscal year, mutual fund managers will also step up their buying to make sure the NAVs of their respective funds end on a higher note.
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