Equities find their feet after March rampage on reassurance from Fed

Bourses cap April with 14.7% gains, best since '09

The benchmark indices rallied 3% on Thursday to cap April with a 14.7% gain — the best monthly surge since 2009. 

Encouraging developments around Covid-19 treatment and the US Fed’s reassurance of continued stimulus action fuelled the latest jump. 

After a punishing March, April was a one-way street for markets. 

They managed to shrug off a grim economic outlook and concerns over unemployment and salary cuts to recoup more than half the losses suffered in March. 

Experts say aggressive stimulus measures announced by some central banks in developed countries have charged the bulls. The gains in April have been widespread, but pharma and automobile stocks have been the stand-out sectors.