Capital Market Report For August: IDBI Capital
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IDBI Capital Report
Global Market Performance: Developed market indices across the world was up month-on-month in August 20-21. S&P 500, Nasdaq and Dow made a new all-time high in the month.
India Performance: Nifty 50 was up 9% moth-on-month and performance is driven by defensive sectors like FMCG, power, IT / technology.
Earning Performance: Consensus modeling Nifty 50 EPS to increase by 40%/11% YoY for FY22E/23E.
Consumer price index inflation in July 2021 eased to 5.59% and is led by easing of supply chain disruption and moderation of food inflation.
Goods and services tax collection continued to remain buoyant.
Yield: Globally bond yield were flat month-on-month. In U.S. yield has declined from high of 1.7% in March-21 to 1.3% in Aug-21. In India 10 year G-sec yield was flat month-on-month at 6.2%.
Fund flows: Foreign institutional investor and domestic institutional investor were buyers in India equity market in Aug-21.
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