Market Update- November 2020

Global markets took a breather after a phenomenal rebound  seen since the lows of March 2020. A combination of caution  ahead of US Presidential elections and a sharp jump in Covid  positive cases in Europe and US, led to frayed nerves in equity  markets, with most witnessing healthy corrections. Indian  equity markets though outperformed, with Nifty50 gaining  3.5% for the month. The broader markets just about managed  to close in the green with minor gains for the month.

Markets are now looking forward to the festive season which  combined with pent up demand is likely to lift capacity  utilization. Q2FY21 results will be watched keenly for positive  cues on the much-anticipated recovery for India Inc. There is  no doubt that Q2 will witness sequentially higher growth  numbers. In general, Q2FY21 earnings for companies who  have reported so far have been meeting or higher than the  suppressed expectations.

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