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Key Events for the Month of January 2022:
• Nifty (-0.1%) started the year flat due to several factors ranging from a global risk-off driven by accelerated taper worries and Fed hawkish stance.
• The IMF has cut India’s GDP forecast for FY21-22 to 9% on concerns over impact of new covid variant.
• Geopolitical issues resulted in crude hitting 7 year high and breaking $90 barrel.
• The GST collection in Jan 2022 stood at ₹1.38 lakh crore, a growth of 15 % over the year-ago period.
• Headline CPI Inflation rose less than expected to 5.59% YoY in Dec-21, primarily led by unfavourable base effects. WPI inflation eases to 13.56%
in Dec with Inflation in food articles, spiked to a 23-month high at 9.56%.
• FIIs continued being net sellers in the month of January 2022 and were net sellers to the tune of -$5.0bn even as DII buying continued +$2.9bn,
driven by both MFs +$1.4bn and Insurance +$1.6bn.
