NSE Nifty 50 Index has more than doubled from a March 2020 low. Traders are betting India's record-breaking stock rally still has legs, fueled by expectations of continued dovish monetary policy even as inflation fears deepen. The nation's NSE Nifty 50 Index has more than doubled from a March 2020 low -- one of the best performers in the world over the period and testing new peaks almost every month. It is also among Asia's top gainers this month, beating the regional benchmark by about 4 percentage points. Breaking with other emerging-market central banks that have either hiked or indicated higher rates, the Reserve Bank of India has held a dovish stance as its governor believes price gains are transitory. Overseas investors are taking notice, with net inflows amounting to about $7 billion so far this year, the highest among emerging markets in Asia, according to Bloomberg-compiled data.