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Going forward, surmounting 20K on NIFTY will take time to happen but on the contrary,  New Delhi, July 30 (IANS) Markets have been on a roll over the last four months since they made a bottom in the second fortnight of March 23. In the process, markets have hit their lifetime highs and are now looking to cross Mount 20K on the .Readers would recall that the level of 20K was missed by 8 points on July 20. Results season for the first quarter of FY 23-24 are currently on and the scorecard is not all that positive. Results have been a mixed bag. The buoyancy in the markets is spearheaded by FPIs who have been pouring money into the markets on a sustained basis. Barring a brief period when they were selling in India to buy stocks in China, the situation has now reversed completely. Looking at the GDP, economy and the resilience of the Indian economy to tough global conditions and challenges, its back in favour of India. It is this state of the economy that is bringing money to the Indi...

Yet markets have not reacted very adversely to the same The GDP on a better growth rate than anticipated has helped as has the fall in inflation compared to previous months. Is this rally in Indian markets sustainable? It appears that two positive drivers for this rally is the sustained inflow of money from FPIs and the constant inflow from investors to mutual funds through contributions and also monthly SIP. These are ensuring that there is adequate liquidity to fuel the rally. Yet another factor is the improved performance of Smallcap and midcap stocks and retail investors making money as they own these stocks in a much larger size than what they hold in large cap stocks.