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Markets set for 10-yr high gains in FY21 despite covid

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covid-induced turbulence, Indian stock markets are set to see their best performance in a decade in 2020-21. During the financial year, which ends on 31 March, India’s benchmark index Nifty has gained over 65% so far.

Data showed that in FY20, Nifty ended 26% lower mostly because of the crash in March, as the Centre had announced a complete lockdown in the country in the last week of the financial year.This compares with a 73.76% rise in FY10, while in the remaining nine years since then, Nifty has seen a maximum yearly increase of 26.65% in FY15.

If markets continue to maintain the rally, gains in FY21 may even top the previous best of FY10.However, what is different in the market rally in FY21 is the lack of support from domestic.

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