Sensex ends 2018-19 with 17.3% gains, most since 2014-15

A surge in foreign inflows is seen as the major reason behind the latest market surge.
Samie Modak reports.

The Sensex ended 2018-2019 with 17.3% gains, the most since 2014-2015.

The gains were boosted by an 8% jump in benchmark indices in March.

A surge in foreign inflows, amid cooling off of US bond yields, is seen as the major reason behind the latest market surge.

Experts say the market performance has exhibited a high correlation to US bond yields.

The rupee and government bonds also saw high volatility, with the former swinging about 13% against the US dollar, while the yield on the 10-year benchmark bond saw an over 100-bps movement.

Brent crude oil prices, too, had markets on the tenterhooks, especially in the September and December quarters, when it touched a high of $86 barrel a dollar and dropped to a low of $49.7 a dollar.

The markets have been turbulent, with the Sensex dropping nearly 15% from its highs and almost recouping the losses later.