Despite being a washout month for the economy, Indian equities were the best performers globally in April. The Nifty rose 14.7 per cent in local currency terms — most among major world markets. In dollar terms, India’s returns were slightly below that of Taiwan. Some believe that the best monthly performance in 11 years was on a weak footing, as it was sans any fundamental base. If investor sentiment turns bearish, domestic markets could tumble, they add.
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