Nifty Closes At Record High In May; India Outperforms Global Markets: Motilal Oswal
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Motilal Oswal Report
After consolidating in April 2021 (down 0.4% month-on-month), the Nifty headed north in May 2021 (up 6.5% month-on-month) to close at an all-time high of 15,583.
The Nifty is up 11.5% thus far in 2021.
The rally was propelled by strong foreign institutional investors inflows in the second half of the month and steady decline in daily Covid-19 cases in India as well as supported by strength in other Asian stock markets.
FII inflows were back and stood at $0.7 billion.
Domestic institutional investors saw inflows for the third consecutive month at $0.3 billion.
Over the last 12 months, midcaps are up 94% versus a rise of 63% for the Nifty.
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