Vaccination numbers, dip in Covid cases pushing markets higher: MOFSL’s Rahul Shah

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Bulls continue to control Dalal Street on Tuesday with Sensex hitting fresh all-time highs and broader markets outperforming benchmarks. Nifty auto, infra, metal, and PSU bank indices each trading with a 1% gain. BSE Midcap and Smallcap indices up 1% each.

Maruti Suzuki, UPL, and Shree Cements are the top gainers while Adani Ports, Adani Enterprises and Reliance Industries are the most active stocks. Jet Airways got locked at the upper circuit after NCLT approved the resolution plan

On Money9, we spoke to Rahul Shah of Motilal Oswal Financial Services (MOFSL) to understand the fundamentals backing the resilience in markets.

“Global trends have been positive for the momentum of the Indian market pushing benchmarks higher. The declining Covid cases and strong vaccination numbers have led to buoyancy in the markets today. Monsoons are progressing well and this also augurs well for the markets going forward,” Shah said.

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