The March F&O series saw the bulls take control right from the first day. After that there was no looking back. Be it the spiraling inflation, RBI’s surprising rate hike or the European debt troubles nothing seemed to perturb the bulls. Persistent inflows from the FIIs certainly helped, as did the better than anticipated Union Budget. FIIs turned out being buyers to the tune of ~Rs165.12bn during the month of March.

The BSE Sensex and NSE Nifty rallied by around 8% each during the March series. The strong upswing was led by blue chips like Reliance Industries and Bharti Airtel which added up 14% each. Frontline banking stock, HDFC Bank surged 13% while, Hero Honda accelerated 17% during the March series.