Stat 2.1 – Monthly Data Dive of 10 essential charts shaping the markets

From fiscal trends to retail participation and valuation cycles, here are a few signals that stood out:

• Direct tax collections continue to grow, while indirect taxes show early signs of softness.
• Government expenditure is rising steadily, with capex growth far outpacing overall spend.
• The value of securities held in demat accounts has grown fivefold to ₹535 trillion — now ~165% of GDP.
• Hotel demand in India continues to outstrip supply, supporting sector pricing power.
• Recent PSU value creation has been driven by earnings growth rather than valuation re-rating.
• The US yield curve is steepening as long-term yields rise even while policy rates ease.
• Active equity inflows into NFOs reflect market cycles — rising in strong phases, moderating otherwise.
• SIP inflows continue their structural uptrend, reinforcing sticky retail equity participation.

 

Also in the deck:
– Price remains a key decision factor, even as EV buyers show willingness to pay a premium
– US equity valuations look elevated in isolation, but are supported by strong margins and ROE in the AI cycle

 

Swipe through the full deck for charts, data, and our sources.
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