Vaccine, COVID situation, geopolitical trends, Budget to be major drivers for Indian equities in 2021
From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. PTI January 01, 2021 / 11:24 AM IST
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The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both the worst of times and the best of times for the stock market, said analysts.
‘Life insurance to see flat growth in FY21’
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The life insurance industry’s growth in the current fiscal is likely to stay flat amid sharp traction seen in the protection business and the ₹5 lakh income tax exemption will have a short-term negative impact, a top official said.
In the private sector, additional premium income saw a contraction of 4% in the first half of the fiscal while some companies attained healthy growth.
Companies that could offer complete digital onboarding and servicing immediately grew, he said. “The industry is likely to remain flattish,” said Kotak Mahindra Life Insurance MD & CEO G. Murlidhar.
National Investment and Infrastructure Fund announces final close of Master Fund at $2.34 billion
Top investors include Canada’s Public Sector Pension Investment Board, US International Development Finance Corporation and existing investor Axis Bank, who together invested $107 million.
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The National Investment and Infrastructure Fund (NIIF) on December 21 announced that it completed raising funds for its NIIF Master Fund, achieving a size of $2.34 billion, exceeding its target of $2.1 billion.
Top investors include Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment manager, US International Development Finance Corporation (DFC), the United States government’s development finance institution, and existing investor Axis Bank, who together invested $107 million.
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Hemant Kanawala, head–equity, Kotak Mahindra Life Insurance, said the current Covid situation gives the government room to open the economy further. Most of the economic indicators show improvement with IIP growth of 3.6 per cent in October 2020, manufacturing sector PMI in the expansionary zone at 56.3 in November and sustained traction in the consumption demand.
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