To answer these questions, we need to understand the factors that were driving the Indian markets in-spite of slowing Indian economy, post Demonetization. The single most and the most significant factor was foreign liquidity, the "Hot Money", from the foreign portfolio investors (FPIs). Despite slowing domestic economy, they (FPIs) were betting high on India. However, they were betting on limited number of stocks belonging to high growth areas and the ones that were index constituents. This led to a situation where a big liquidity flow started to follow a fewer number of stocks, bringing in a demand-supply rule to play its role. This resulted in sudden spurt in prices of those stocks which were in high demand. As these stocks were also part of the benchmark indices, the indices saw sudden spurt in their price levels. The intensity of FPIs flow was tremendous. They were net buyers in the India markets since September last.