Index Outlook - Earnings Stage Smart Upgrade, Further Upside Seen: ICICI Direct

The reflection of a trader working is seen on a monitor on the floor of the New York Stock Exchange. (Photographer: Jin Lee/Bloomberg)

Index Outlook - Earnings Stage Smart Upgrade, Further Upside Seen: ICICI Direct

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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.

ICICI Direct Report

Indian markets have shown resilience in the recent past and scaled new highs amid encouraging corporate earnings in Q4 FY21 led by the upswing in key commodities prices and strong underlying demand prospects.

Goods and services tax collection at ~Rs 1.02 lakh crore for May 2021 (eighth consecutive month of more than Rs 1 lakh figure) is testimony to robust domestic macroeconomics.

Going forward, with peak of the Covid-19 resurgence behind us, increasing pace of vaccination domestically and calibrated state specific unlocking under way, we expect economic activity to bounce back sharply in nine months-FY22E.

Click on the attachment to read the full report:

ICICI Direct Index Outlook.pdf

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