Dipan Mehta, member of BSE said the market is seeing an “earnings relief rally”. The third quarter earnings season has begun on a good note, with most corporates reporting numbers that have met street expectations or at least not surprised too much on the downside.

Metal stocks have continued their outperformance into the new year. Giving them company are the oil firms, which are gaining on higher crude prices. “These are new leaders driving the Nifty up,” he told BloombergQuint.

Mehta advises investors to buy equities at every dip. “It could be a stock-specific or overall broad market correction, but we should look at increasing exposure to equities,” he said.