NEW DELHI: Though Indian markets posted only modest gains in September, the markets may be entering an early recovery phase, with improving breadth, sectoral rotation and stable macros, a report said on Thursday.
PL Asset Management said in a report said that strengthening breadth -- the share of stocks hitting new 12‑month highs has doubled from recent lows, and six‑month breadth readings exceed 55 per cent -- signalling growing investor conviction and improving risk appetite.
During September, global equity markets rallied, with the S&P 500 up 3.1 per cent, the Nasdaq surging 5.1 per cent and Hong Kong’s Hang Seng jumping 7.1 per cent.