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Below are Views On As FY 21 - a painful disater for humanity but, paradoxically, beneficial for global stock markets By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

As FY 21 - a painful disater for humanity but, paradoxically, beneficial for global stock markets - come to a close, there is hope and optimism in the air. Even though Covid cases are rising in many areas, it is clear that in the race between the vaccine & the pandemic, the vaccine would win. Economies would rebound smartly in FY 22. But markets have already discounted this and valuations are high. But this is unlikely to deter the bulls in the short run. Today being the last day of FY 21, DIIs are likely to buy aggressively  to push up the NAVs of their mutual fund schemes. Their focus is likely to be IT, private sector financials, cement, pharma and select FMCG stocks which are expected to report good Q4 results.

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