BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Nifty ended CY21 with an impressive 24% YoY gain and outperformed most of the global markets, despite severe Covid-19-related challenges and multiple headwinds on the supply side. Resilient corporate earnings, consistently strong domestic inflows in the equities and a highly successful Covid-19 vaccination program drove the outperformance, in our view.
The last quarter of CY21, albeit, did witness elevated volatility and some pull-back with the influx of a new Covid variant (Omicron) as well as selling of $4.8 billion in Q3 FY22. The domestic vaccination drive acquired momentum steadily to end CY21 with a mammoth 1.45 billion administered doses (1.48 billion vaccine doses administered to date).
While the third wave of Covid-19 is creating havoc throughout the country and daily cases have spiked ~10 times within three weeks to 87,000 per day from below 10,000, the impact of the new variant has mostly been mild with very low hospitalisation and mortality rates, so far.
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