India, Oct. 31 -- In September, while global markets witnessed a broad-based rally of sorts, Indian equities posted modest gains. According to PL Asset Management, a division of PL Capital, the global stocks were buoyed by Fed's rate cut possibility, which was announced yesterday, but Indian peers lagged due to tariff pressures, and foreign money outflows. Yet, "beneath the surface, improving breadth, sectoral rotation, and stable macros suggest India may be entering an early recovery phase," states its analysis. The minor rises in the Nifty 50, and Nifty Midcap, and Nifty Small-cap were led by cyclical sectors, and safe-haven assets like bullion extended their winning streaks.

PL Asset Management's computations indicate the market inter...