It’s 2021, the COVID vaccines are rolling out and the stock markets are making new highs. Here are some charts making sense of this new bull run

India’s overall disposable income has increased 2X in last 8 years

 

But we are not buying more cars

 

 

In a double whammy covid-19 struck, now we have rising disposable income > lockdown means no spending > leading to huge money left in bank accounts

 

This new saved money was searching for returns and the fixed income instruments have become less attractive to savers as interest rates have gone down

so these folks opened equity demat accounts in big numbers – CDSL reported their best ever year of account openings

 

So it is the new money driving markets?

Source

Sure it is but regionally we are much more attractive comparative to other countries for foreign fund flow

with inflows outdoing their previous highs made in 2013

so

• Low interest rate
• High retail participation and
• FII flows

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