TMS Ep54: GDP, Parag Agrawal, IT stocks, primary and secondary market

India’s GDP grew by 8.4 per cent in the second quarter of this financial year. Boosted by rising vaccination, Asia’s third-largest economy is seeing a rebound from a historic economic contraction last year. But is it all good news? We look at what the Q2 growth numbers mean for India’s economic recovery and the risks ahead.
 
After encouraging GDP numbers, there is another piece of good news for the country. Social media giant Twitter has followed in the footsteps of Google and Microsoft to place an Indian-origin techie at its helm. Parag Agrawal, who until Sunday was the chief technology officer, has succeeded co-founder Jack Dorsey as the CEO of Twitter. Does Agrawal’s elevation mean Twitter's coming of age, just as in the case of Microsoft when Satya Nadella took over. 

Well, we have to wait to see how Agrawal takes forward Twitter’s Bluesky project, decentralised social media protocol and NFT-based profile pictures.
Meanwhile, frontline indices fell nearly four per cent in November, clocking their biggest monthly fall since March 2020.
Renewed Covid scare, unfavourable risk-reward and possible change in interest rate scenarios made Indian equities less attractive during the month. However, analysts expect sectoral-rotation to take place from here on, and bet on defensive plays to support the markets. 
 
The market may be in a defensive mood currently, but IPOs are a flavour of the season. The IPOs of Paytm and Nykaa kept people glued to the screens recently. Their listings in the primary market made a lot of news due to Paytm’s poor showing and Nykaa’s unexpected success. But ever wondered what is primary market and how is it different from the secondary market? Let’s find out about all these in this podcast. 

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