Broad-based mkt rally unlikely in 2022 amid multiple headwinds: Brokerages

They advise investors to focus on quality companies as they list their favourite picks

The spurt in vaccination, fewer Covid cases (barring the 2nd wave), and recovery in economic activity led to a 22-24 per cent gain in the benchmark indices for CY21. The biggest gains in four years were not only limited to the blue-chips but were more broad-based, with the small and midcaps indices outperforming their larger peers with returns twice that of the benchmarks.
 
Barring the flattish performance in the first four months of the year and the correction around February-March and since October highs, there had been a one-way upward movement. Though the markets have recovered a bit over