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The firm acknowledged that the third wave of the Covid pandemic has again resulted in some operational disruptions in January and February in few markets

“Continuation of N Chandrasekaran as the Tata Group chairman is a welcome step. It is a big positive because this will ensure the continuity in the thought process of the entire group and some of the group companies have definitely benefited from the economic change in the economic cycle that is now turning favourable.”

Nifty50 has given up almost all the gains of the last two trading sessions. In this process, it also filled the bullish gap placed in the zone of 17,339-306 level

“In the last two years, when everything had gone up, I could have thrown darts and done very well. So, I think the next couple of years are going to be far more stock specific and while at a broader level, returns may be subdued but some pockets and specific pockets may do very well.”

“Our long-term growth enablers for growth are all progressing well – be it technological interventions, network expansion strategy or capability building. All the long-term initiatives are going as per plan and we feel very confident of coming back to our pre-Covid growth levels as soon as the pandemic wears off which it is showing signs of.”

The Nifty Auto index closed 1.04 per cent down at 11552.9.

Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit.

In 2021, MCX gold and silver gave 4 per cent and 8 per cent negative returns, respectively

A total of 42,540 shares changed hands on the counter till 02:10PM (IST).

Wood predicts the MF AUM to surpass Rs 90 lakh crore by the end of this decade. The potential for growth is also illustrated by the fact that mutual fund assets under management account for only 16 per cent of GDP, which is way below most countries, he said.