Asian markets looked softer today, except in India where the NIFTY50 pulled ahead, rising above the 10,550 mark. The index jumped thanks to a strong performance for key equities including IndusInd bank, Aarti Industries, Balkrishna Industries, Mastek and Kotak Mahindra Bank, which all hit 52 week highs in early trading.
Optimism was also high for equity benchmarks thanks to forecasts that the country would receive a 'normal' monsoon rainfall this year, raising hopes for higher farm output and a boost to the rural economy, which will help agricultural stocks to rise.
This month the NIFTY50 index is strongly outperforming indices across the rest of Asia including Japan's TOPIX, Shanghai's SSE Composite and South Korea's KOSPI, having notched a 3.60% gain since late March despite global market volatility.
Via: https://invstr.com/