Domestic Markets Spin Into A Higher Orbit

Benchmark indices have surged to new record highs amid robust economic indicators and optimism surrounding the corporate earnings season

The domestic market experienced a period of volatile trading sessions over the last two weeks, predominantly characterised by upward momentum. According to data released by the Ministry of Commerce and Industry, the index of eight core industries for February 2024 showed a growth of 6.7 per cent, an increase from 4.1 per cent in January 2024. In March, India’s gross Goods and Services Tax (GST) revenues reached their second-highest level, totalling ₹1.78 lakh crore. As per the latest data from the Reserve Bank of India (RBI), India’s foreign exchange reserves reached an unprecedented high of USD 648.56 billion.