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The one-year rolling return for benchmark Nifty and Sensex on Tuesday stood at about 90 per cent. India, as well as the global markets, rebounded sharply from Covid-19 lows logged on March 23, 2020. Previously, the benchmark indices had witnessed a higher one-year return only in 2010, when the domestic equities bounced off sharply from the global financial crisis. The market recovery on both occasions – 2009-10 and 2020-21 — had one common factor---pump priming by global central banks, mainly the US Federal Reserve.
A year ago, there was extreme fear on the Street with stock prices falling like nine
