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Covid vaccination upheaval to cause volatility in 2021, says Kotak's Nilesh Shah

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₹60,000 crore in equity in 2020. Retail flows were also robust. As per data from Securities and Exchange Board of India (Sebi), 4.9 million demat accounts were opened in the last calendar year, the highest in almost a decade and a 22.5% increase from the previous year.

Total demat accounts at the end of 2020 came at 40.8 million.Improvement in fundamentals, as shown by the better-than-expected results in September quarter, has also helped improve the market sentiments.“Going forward our focus will be on two factors-- inflation and corporate earnings, to ascertain the market direction," said Shah.“If earning momentum sustains, any correction will be temporary but if it doesn’t, then any rally will be temporary," he added.Inflation can also.

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