The domestic equity markets have managed to recover almost their entire losses suffered during the first two months of this calendar year following heavy buying by foreign portfolio investors post the Union Budget.

The Sensex has rallied 11.74 per cent since the Budget day after correcting close to 12 per cent during the initial two months. While overseas investors pumped in `21,143 crore in March, they invested `7,741 crore in April till date.

During January and February, global inves-tors offloaded shares worth Rs 6,647 crore as a steep fall in oil prices stoked fresh fears about a China led global growth slowdown.

“India is among the few countries in the emerging market universe and the only country in BRICS with better macro economic fundamentals. India’s fiscal and current account def-icit are under control and the lower global cr-ude oil prices are expected to further improve the twin deficits. The steep correction in equities during the beginning of this year has provided a major opportunity for global inves-tors to increase their exposure to India,” said Jagannadham Thunu-guntla, head of fundamental research at Karvy Stock Broking.

According to him, the fourth quarter results from India Inc have also positively surprised the markets as expectations were muted.

“The markets should be able to maintain their winning momentum if the remaining companies report better than expected quarterly numbers,” he added.