Dear Policyholder,

India continues to be one of the better performing equity markets globally again delivering a return of about 3% as against minor correction seen in both emerging and developed countries. The Foreign Institutional Investor equity investment in September remained positive at about US$1.2bn, similar to last month. Mutual Fund equity investment remained positive at INR 70bn, albeit lower as compared to August. Covid situation remained in control due to benign infection rate and improved pace of vaccination. The relaxation in mobility restrictions is visible reflecting in pick-up in key mobility indices. Improvement in rainfall reduced the monsoon deficit and improved the Kharif sowing activity. Benign food inflation continued to pull down headline inflation.