Capital Market Strategy And Top Idea Picks: IDBI Capital
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.
IDBI Capital Report
Global Market Performance: Equity market across the world, after falling in the first fortnight of December 2021, recovered sharply in second half. For the month, S&P 500 was up 4% month-on-month. Positive performance in equity market was driven by waning of fears over the omicron variant as hospitalisation rates was contained and economic activity was not impacted.
India Performance: India equity market (Nifty-50) was up 2% month-on-month in Dec-21. Overall, Indian market is getting consolidated from the last two-three months. Sectoral wise, Indian IT sector (up 10% month-on-month) outperformed with positive rub off from Accenture’s increased revenue guidance to 19-22% YoY from 12-15% YoY for FY22.
Economic Parameter: Consumer price index inflation (Nov-21) was at up 4.9% (versus up 4.5% in Oct-21). Despite cut in the fuel price, inflation increased month-on-month due to rise in inflation for food and beverages, housing, clothing and footwear. We understand inflation to mellow down in 2022, led by free up of supply-chain bottlenecks, YoY comparisons will make high inflation difficult to stand.
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