Recovery. Resilience. Resurgence. Revival…
There are quite a few more to add to the list of words imbued with the hope that the world embraced while entering the new year 2021. After one of the worst nightmares in human history, the planet hoped for a brighter tomorrow in an age of new normal.
With the COVID cases showing a steady decline across the globe, markets have begun picking up momentum. The Indian markets rebounded with renewed vigour after the finance minister tabled a growth-oriented Budget last month. The rollout of the vaccine earlier this year infused fresh optimism among people and positive global cues triggered an upswing in various sectors.
A revival in automobile looks imminent after a prolonged downhill drive that claimed thousands of jobs and dealt a body blow to the economy. Real estate, too, is rising from its decade-long slump. Equities scaled record highs after the Union Budget and commodities regained momentum, led by a huge spike in gold prices.
The equity outlook for the year 2021 has changed, believes Harshad Chetanwala, who had co-founded MyWealthGrowth.com. “Corporate India was able to cut costs steeply resulting in net profit margin bouncing fast, which was apparent from the third-quarter earnings of the financial year 2021,” he says.
This story is from the March 2021 edition of Outlook Money.
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This story is from the March 2021 edition of Outlook Money.
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