Indian markets on Wednesday surged nearly 0.6% on the back of a continued slowdown in the rate of new covid-19 cases and better than expected March quarter earnings. At 11.30 am, the benchmark Sensex rose 0.63% to 50,955.85 points while Nifty rose 0.51% to 15,286 points. Expectations of early easing of lockdown owing to a fall in cases in many states improved investor sentiment. "It also indicates that assumption of peaking-out by second wave by the end of May or mid of June holds true and adverse impact of second wave should not be felt beyond Q1FY22. In our view, possible withdrawal of restrictions in a phased manner by states from next week should boost more confidence among investors," Modi added.

Source: Mint May 26, 2021 06:19 UTC