This was a significant rise from 2020-21 when 81 lakh accounts (or folios in mutual fund parlance) were opened, data with the Association of Mutual Funds in India (Amfi) showed.
The domestic equity market experienced high volatility during the week gone by, with India VIX rising 16.22% on Monday, even as the US equity indices continued to hit fresh highs despite concerns of a hike in corporate tax rate by the Biden administration.
Dow continued to inch higher, while the Indian bourses showed signs of weakness. In fact, Nifty registered its second-biggest single-day fall in 2021 with heavy volumes. FPIs have been net sellers so far this month, as India struggled to cope with the pace of infections. But this seems to be a healthy correction in the making amid fears of the potential impact of the second wave of Covid-19.
A 2020 winner in Asia’s stock market is now the biggest loser
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A 2020 winner in Asia’s stock market is now the biggest loserBy Moxy Ying and Youkyung Lee, Bloomberg
Last Updated: Feb 21, 2021, 10:52 AM IST
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Synopsis
Essentially flat year-to-date, a gauge of the sector is the worst-performing in Asia, lagging the region’s benchmark by eight percentage points.
Energy shares have staged a comeback on the rebound in crude prices, while financials have strengthened thanks to the rise in bond yields.
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While technology stocks continue to front Asia’s equity rally, one hot sector from 2020 has fallen to the bottom of the leaderboard: health care.