India Stock Market - Fundamental Factors To Driver Indices Higher: ICICI Direct
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ICICI Direct Report
Indian markets have been one of the best performing markets this calendar year and are up 25% year-to-date CY21.
They have deftly climbed the wall of worry be it be the second Covid-19 in the country in April-May 2021 or the third wave expectations during August-September 2021.
This was due to a confluence of fundamental factors; first and foremost, equity as an asset class is being widely and rightly recognised as an asset generating inflation beating returns or real returns over a long period of time and is indeed very much liquid in nature; the TINA (there is no alternative) factor is at play.
Secondly, with the increase in pace of digitisation, a set of efficiencies have creeped into organisations as well as the economy, indicating better corporate earnings/gross domestic product growth.
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