Indian stock market emerges as the world's best performing

By SiliconIndia   |   Thursday, 22 November 2007, 08:00 Hrs
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New Delhi: India has emerged as the world's best performing stock market in the past three months, despite the five-day fall that wiped off close to $85 billion of investors' wealth from the bourses.

India's benchmark Sensex has lost over 1,300 points in five trading sessions pulling down the total market capitalization of all the listed firms from about $1,650 billion to $1,565 billion during the same period.

An analysis of three-month U.S. dollar return data available with the global market intelligence service provider, MSCI Barra, for equity markets across the world shows that Indian bourses have delivered the highest gain of 33.64 percent during this period, thus adding over $400 billion to the investors' fund.

The developed markets like the U.S., Japan, Austria, Sweden and Belgium have given negative returns in this period, while UK managed a modest return of 0.6 percent.

Spain has been the best performing developed markets with 18 percent and Hong Kong with 17 percent. But, their returns is just about half of the same on Indian bourses since August 21.

Worldwide, India is followed by Qatar, UAE and Egypt with a gain of about 28 percent each. India is followed by Brazil with 31 percent return, while Chinese stocks have managed to give about 17 percent returns.

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