BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Equity Market - Indian equity markets have witnessed a remarkable rally from the March 2020 lows against all expectations on the back of a global equity market rally.
While global markets remained supportive of the sharp recovery, Indian markets outperformed their global peers.
The year 2020 has so far been a tale of two halves with the first half in February and March witnessing a sharp unprecedented fall while the second half since then saw a sharp recovery.
Debt Market - In the last two years, the Indian debt markets have witnessed a good rally with most funds having clean portfolios with no credit risk event delivering annualised returns in the range of 10-11%.
Funds with higher duration delivered even higher returns as long bond yields, particularly G-Sec yields, delivered higher capital gains as yields decline on consistent rate cuts by the Reserve Bank of India.
Exchange traded funds - ETFs have already taken the world by storm, with assets under management (AUM) in such funds already surpassing that in traditional mutual funds in many countries.
Passive funds emerged in the U.S. more than two decades ago. The first modern day exchange traded fund (ETF) S&P SPDR (Spiders) started trading in the U.S. in 1993.
The market for ETFs has grown tremendously since then. Today, 2,000 ETFs are listed in the U.S..
In India, the ETF landscape has gained traction since 2015 and has not only become much bigger but also more diverse.
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