Indian equities outperformed the Emerging Markets (EM) in December after underperforming in the previous two months. Domestically, the focus was on the sustainability of recovery trends in the economy post the festive season. COVID-19 cases in India continue to decline from their peak in mid-September.
As we enter 2021, the pandemic continues to dominate the news, with the frantic rollout of vaccination across countries offering much needed light at the end of the dark COVID tunnel. After the worrisome trends in September, India has managed to get good control over the spread of the virus over past few months with the most recent weeks’ data being very heartening.
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