 
|
|
|
Key Events for the Month of December 2021:
• Nifty (+2.18%) gained 2% in the final week of 2021 after remaining under pressure in December due to incessant FII selling in India.
• The MPC unanimously voted to keep the repo rate on hold, while maintaining the “accommodative stance” with a 5-1 vote. It reiterated its growth
bias in policy as the Omicron variant poses risks for the global outlook.
• India’s manufacturing PMI hit 10-month high in Nov at 57.6, a jump from 55.9 in October. However, PMI for services dropped moderately to
58.1 in November from a ten-and-a-half-year high of 58.4 in October.
• GST revenue collected in December was over ₹1.29 lakh crore, 13 per cent higher than the same month last year.
• Headline CPI print for November came at 4.91%. The surprise was driven by weaker than expected Food & Bev ex Vegetable inflation.
• The central government’s fiscal deficit as of Nov end was 46.2% of the annual budget. Total receipts at November end were Rs13.78 trn
• FIIs recorded the longest selling streak in last 10Y (26 days) with them being net sellers to the tune of -$1.7bn in Dec (YTD +$3.8bn) even as DII buying
continued +$4.3bn (YTD +$12.7bn), driven by both MFs ($2.5bn) and Insurance (+$1.2bn)
