markets opened nearly 0.6% higher amid continued fall in of covid cases, accompanied by better than expected macro-economic data.At 9.40 am, the benchmark Sensex rose 0.6% to 49,025.92 points while Nifty gained 0.55% to 14,758 points."India's Covid data, indicates steady improvement with fresh cases steadily declining and the latest number at 2.81 lakh is indeed very positive.
And the recovery numbers at 3.78 lakh indicate a steady decline in total caseload. This means the present increasing lockdowns will be a temporary phase which is likely to be ignored by the market" said V.K.
Vijayakumar, Chief Investment Strategist at Geojit Financial Services.CPI-based retail inflation came in at a three-month low of 4.3% in April versus 5.5% in Mar.