Business Daily from THE HINDU group of publications
Thursday, Sep 20, 2007
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Business Daily from THE HINDU group of publications Thursday, Sep 20, 2007 ePaper |
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Stock Markets Money & Banking - Mortgage India gains as BRIC markets back in vogue
Lokeshwarri S.K.
Chennai, Sept. 19 The BRIC (Brazil, Russia, India and China) countries were once more in vogue as the global markets recovered from the deep cut received by the onset of the sub-prime crisis. star performersThough Chinese equities have been the star performers through 2007, the other components of BRIC, Brazil, Russia and India were lagging in the first half of 2007. Greater PotentialHowever since the August trough, foreign funds seem to be attracted to the BRIC theme once again as they see greater potential for growth in the economy of these countries. On the back of increased inflows into domestic equity markets, India, was the third best performer amongst the BRIC markets yielding returns of 19 per cent in the August 17-September 19 period. In the same period, China was the best performer with 39 per cent gains while Brazil’s Bovespa notched a gain of 26 per cent. Asian indicesThe under-performer among the BRIC equity markets, Russia’s RTX Index, has dwarfed the meagre 5 per cent rise recorded by Dow Jones Industrial Average. Amongst other important Asian indices, Korea’s Kospi has given returns of 18 per cent while the Straits Times index of Singapore has given returns of 16 per cent in the August 17 to September 19 interval. Recovering LossesIndian markets have now joined China and Hong Kong in recovering the losses recorded in the August crash. All the other major indices are positioned well below their July peaks. More Stories on : Stock Markets | Mortgage
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