In the month of February, India's key benchmark indices rose (Nifty 3.7%, Sensex 3.9%) on account of Union budget announcements, better than expected corporate earnings in 3QFY17 and GDP figures. Investor sentiments turned positive as budget provided a big relief to investors by not changing long-term capital gain tax structure on Equity investments, contrary to pre-budget concerns over discontinuance of tax exemptions. During the month, sectors such as Realty, Consumer Durable and IT rose by 9.2%, 9.1% and 8.2% respectively, while Auto sector fell by 1.5%. FPI remained the net buyers on account of heavy buying in HDFC bank as RBI lifted the restriction of FII buying in the bank. However, DII has also remained buyers on excluding the activity in HDFC bank where they remained sellers. India's GDP grew at a positively surprising rate of 7% in 3QFY17 despite the demonetization move. Also, CSO has maintained its advance GDP growth estimate for the current fiscal at 7.1%, implying that the demonetization has had limited hit on the economy. The mainstay of growth during the quarter...