A tug-of-war is underway between micro resilience and macro uncertainty. If global funds take larger positions, market will break through. But that needs a stable to firm currency
What a difference a week makes in markets! Oct ended with the usual gloomy portents bedeviling India’s equity markets for two years, but the festive season seems to have brought good stars together. For starters, quarterly results have been a Diwali-level positive surprise. With 70% of results already released, median revenue and profit growth have both been in touching distance of 20%.