Indian stocks best performers in 2009 so far

Indian stocks best performers in 2009 so far
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First Published: Sun, Jun 28 2009. 12 00 PM IST
Updated: Sun, Jun 28 2009. 12 00 PM IST
New Delhi: Indian stocks have emerged as the best performers among those in the emerging and the developed markets across the globe so far this year, giving investors the highest return of nearly 60%.
According to an analysis of MSCI Barra indices, a measure of returns from various stock markets across the world for foreign investors, Indian stocks have outperformed their global peers, including in the US, the UK and China in 2009 so far.
Indian stocks have provided a return of 59.30% year-to-date, against 34.37% gains provided by MSCI Barra’s emerging market index, covering all developing nations.
Indian stocks have even outperformed all the developed world markets covered by MSCI Barra, as the markets in the US and the UK gave returns of just 2.33% and 10.17%, respectively, so far this year.
Among the emerging Bric (Brazil, Russia, India and China) nations, the Brazilian market was the closest competitor with gains of 56.89% till 26 June year. The Chinese and the Russian markets have given returns of 36.77% and 41.61%, respectively, in the year so far.
The 30-share benchmark index of Indian stocks, Sensex, gained over 5,000 points in the year so far to settle at 14,764.64 points on 26 June compared to 9,600 levels on December 31, 2008.
Other emerging markets which gave over 50% returns so far this year include Indonesia (55.85%) and Chile (51%).
Analysts opined that the Indian markets have been rising on the positive global cues and got a positive spur from the decisive mandate in favour of Congress-led UPA in the general elections.
“The Indian stocks have been on a recovery path primarily in the past three months due to election results and on expectation of new government spurring the economic reforms in the country in the days to come,” an analyst from a leading brokerage said.
Meanwhile, other developed markets including Canada gave 25% returns, Sweden (21.42%), Norway (24.70%) and Japan (2.45%), according to the data.
Further, Indian stocks have also performed significantly better in the past three months period up to 26 June and have given foreign investors returns of 62%.
The Brazilian markets gave returns of 40%, Russia 34.37% and China 34.98% in the three months.
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First Published: Sun, Jun 28 2009. 12 00 PM IST
More Topics: India | Stocks | Markets | Sensex | BSE |