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Market may gain steam as Covid cases fall

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On the back of the steady decline in daily Covid-19 infections, rising hope for another stimulus package to support the most affected sectors in the second wave of Covid, excellent Q4 earnings and positive global cues; the market had a historic week. After spending more than three months of consolidation, the benchmark indices ended at a record closing high with the BSE Sensex surging 882.40 points or 1.75 percent to 51,422.88, and the NSE Nifty rising 260.35 points or 1.72 percent to 15,435.65 points.

The broader markets also gained momentum, but underperformed benchmark indices, as the Nifty Midcap-100 index was up 1.1 percent and Smallcap-100 index up 1.83 percent. The momentum may remain positive with continuity in record highs in the coming week amid falling Covid cases, expected state-wise unlocking, and a likely stimulus package by the government, experts feel. RBI in its annual report, has issued caution over the meteoric rise in stock prices at…

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