Happy Diwali once again!Happy Diwali once again!Happy Diwali once again!
Let me wish you all a very Happy Diwali and a Prosperous New Year!
As we head into the auspicious occasion of Diwali the Nifty is trading in the green as compared to
a year ago and has staged a sharp recovery from its March lows. Looking at the markets it is hard
to believe that a few months ago we were dealing with an unprecedented crisis due to outbreak
of the Covid-19 virus globally.
The rapid spread of Covid-19 earlier this year risked overwhelming healthcare in various
countries and required implementation of strict social distancing measures including
lockdowns. However such measures brought the world to a virtual standstill and hurt the global
economy substantially. Central banks and governments announced monetary and fiscal
measures bigger than the ones announced during the peak of the global financial crisis which
has led to near zero rates in developed economies. This led to a surge in global liquidity resulting
in large FII flows into emerging markets including India as we received flows of over `95,000Cr in
the first seven months of FY2021.
One of the key highlights of the market recovery has been the significant increase in retail
participation as investors took advantage of cheap valuations to enter the markets. Lower
interest rates on fixed income and increased ease of trading due to proliferation of mobile apps
and online tools also contributed to higher retail flows.
The Covid-19 crisis has had an unprecedented impact on all of us. However humanity has once
again risen to the challenge and adapted to the new environment. While rapid adoption of
digital technologies has helped us overcome the current crisis, it has also challenged traditional
business models. Companies and sectors which adopt or facilitate in adoption of digital
technologies are going to be market share gainers and winners of this mega trend.
We at Angel Broking have been great believers and one of the early adopters of digital
technologies. This has helped us capitalize on new opportunities leading to record monthly
customer additions despite the crisis. Our company has also achieved many other milestones
during this period including the successful listing of our shares on major exchanges. I would like
to take this opportunity to thank our customers and investors for making our business and IPO a
Gradual reopening of the economy has led to strong bounce back in growth without allowing
the Covid-19 situation to go out of hand. High frequency indicators reflect significant
improvement in the economy while recovery rate of 92% point to improvement in the Covid-19
situation. Looking at the current environment I am confident that the worst is behind us and we
can look forward to a better and brighter Diwali next year.
So, this Diwali, let’s look forward to a better new year while celebrating the auspicious occasion.
H A P P Y