Indian stocks emerge as second best performers globally
As per the Survey, this time Indian stock market has posted better returns compared to the 65.2 percent returns for five-year period ending 2008. At the end of 2007, Indian markets gave a record high return of 247.4 percent over 2003- end level, it was lower than 296.8 percent return in Indonesia. "During 2009, the Asian stock markets were on recovery path. The cumulative change in global indices in end December 2009 over the end December 2003 level revealed a significant rise in these indices across countries," the pre-budget Survey of 2009-10 showed.
The Indonesian market has given the biggest return to investors, as Jakarta Composite Index registered a jump of 264.1 percent to 2,510 at the end of December 2009, as per the survey. The Japanese market was the only one to have recorded negative returns in the period under review. The third best six-year return of 116.9 percent was given by China, followed by 104.4 per cent in South Korea and 74.2 percent in Hong Kong, the Survey said.
In 2006 as well, the returns given by the country's benchmark index Sensex of 136.1 percent was second to Indonesia's 161 percent, and in 2005, Indian stocks were behind South Korea (69.7 percent) and Indonesia (68.1 percent). During 2009, the decline in indices was seen in only Japanese market, with Nikkei 225 witnessing a fall of 5.3 percent. Japanese market has performed well last year as compared to 2008, where it saw a cumulative fall of 22.9 percent.
Amongst, the India's National Stock Exchange, both Nifty and Nifty Junior recorded annual equity returns of 75.8 percent and 128.6 percent, respectively in 2009.
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