A flurry of macroeconomic data including CPI, WPI, trade exports and imports, and trade deficit numbers will be released this week, which can set tone for Indian equities.
The drawdown in forex reserves is expected to continue in the September quarter, despite the possibility of lower capital outflows and improvement in current account deficit.
Profit cannot be the sole objective of businesses, they need to worry about all stakeholders and communities where they live and work, says Punit Renjen.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.
Rising inflation and firming bond yields in the U.S. push down Indian benchmark indices, causing a correction of around 6% from the latest life–highs of February 16.