New Delhi, Feb. 20 -- Indian stock market benchmark indices Nifty 50 and Sensex have been muted in February so far, swinging between gains and losses amid positive and negative cues. While the finalisation of US-India trade deal as well as US-EU deal were positive triggers, rising dollar and geopolitical tensions between US and Iran have kept the gains capped. Both Sensex and Nifty 50 have risen over half a percent during the month.

However, brokerage house, PL Capital, in a recent report, stated that Indian equities appeared well positioned for a recovery supported by improving macro fundamentals, easing valuation pressures, and fresh global trade developments.

"Valuations have moderated to around 19-20x price-to-earnings, improving th...