Today (19th March 2021) bulls fought back to lift indices over a percent higher. A drop in the US Treasury yield and a GDP growth upgrade by Moody's for India helped the markets snap a 5-day losing streak.
Tracking sluggishness in the global markets, the domestic equity markets opened in a sea of red with the frontline indices dropping over a percent. The dip was, however, quickly bought-into, pushing markets in the positive territory in less than two hours into the trade.
Mood in the global markets changed after the US Treasury yields slipped to 1.5 percent from Thursday's high of 1.74 percent. Back home, Moody's Analytics said India's economy is likely to grow by 12 percent in CY2021 following a 7.1 per cent contraction last year as near-term prospects have turned more favourable.
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