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As per the May 11-26 Reuters poll of more than 30 equity analysts, “the Sensex index is adding another 5% and hitting a record 53,200 by end-2021, albeit not much higher than February’s peak and well below what was expected three months ago.”

The survey also mentions that 66% of analysts surveyed cited low risks to the Indian stock market outlook from the coronavirus crisis.

“Despite the modestly upbeat outlook against the backdrop of declining infections, a lot depends on India’s success in ramping up vaccinations. The world’s largest vaccine-producing nation has only fully vaccinated less than 4% of its 1.35 billion population, leaving the economy at risk of more lockdowns and sub-par activity,” the poll unveils.

Against this backdrop, USD/INR remains depressed around a two-month low, flashed the previous day, around 72.65.

Read:  USD/INR Price News: Indian rupee refreshes two-month high above 72.50 amid USD sell-off