By Aditya Raghunath
- On one hand, experts say that the second wave of the pandemic is not going to hurt the economic recovery but what is unspoken is that if COVID-19 cases continue to increase unabated, lockdowns will increase and curbs will become stricter. This will hurt businesses.
- The vaccination rollout is just not catching steam. India crossed 2.17 lakh cases on Thursday but the number of vaccinations hasn’t kept pace with the number of cases. India will receive 50 million doses of Sputnik V by the end of May. Will the economic recovery stall or continue?
- FIIs (foreign institutional investors) haven’t shown confidence in the markets and have been net sellers to the tune of Rs 2,596.76 crore until April 15. The weak rupee hasn’t helped. WPI inflation soared to 7.39%, the highest in eight years and retail inflation came in at 5.59%, well above the RBI’s target of 5%.
- On the plus side, companies Q4 FY2021 results have been good if not great. TCS (NS: TCS ), Wipro (NS: WIPR ) and Infosys (NS: INFY ) haven’t hit the ball out of the park but they have not been a complete let-down either. Infosys has announced a buy back of Rs 9,200 crore.
- Global cues are strong. China’s GDP has grown over 18%. US stock markets are hitting record highs. Jobless claims in the US were lowest in eight months. Big banks have reported good numbers. The UK is opening up after a prolonged lockdown.
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