Fastest Rally For Nifty 50 Since FY10: ICICI Securities

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ICICI Securities Report

On a rolling nine-month basis, the Nifty 50 index (up 86%) is close to exhibiting the fastest rally since FY10 when it gained 103% in a similar timeframe.

Unlike the FY10 rally where domestic institutional investors also contributed to positive flows along with the high level of foreign portfolio investment inflows, the current rally has seen consistently opposite flows from FPIs and DIIs.

Nevertheless, mutual funds did contribute to outflows during FY10 and, overall, the DIIs contributed positively.

Faster than expected pickup in aggregate demand going ahead could make it a consensus buy for both FPIs and DIIs thereby further fuelling the bull market rally.

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