Bourses fetch good returns amidst global turmoil
By ENS Economic Bureau - HYDERABAD
28th February 2013 07:44 AM
Driven by higher FII inflows, India’s stock markets stood out as the global top two markets fetching highest returns, according to the Survey.
FIIs bought equities worth $24.4 billion in 2012, about $5 billion below record purchases two years ago.
“Reinvigorated FII inflows into the country during 2012 helped the Indian markets become one of the best performing in the world in 2012, recovering sharply from their dismal performance in 2011,” the Survey said.
An analysis of major Asian stock indices, NSE’s Nifty and BSE Sensex offered the second highest cumulative returns of 27.7 and 25.7 per cent respectively, succeeding Germany’s DAX, which posted a cumulative return of 29.1 per cent. Japan’s Nikkei 225 and Hong Kong’s Hang Seng followed at 22.9 per cent each.
During the current fiscal, the rise in the indices stood at 11.62 per cent for the Sensex and 11.51 per cent in the case of Nifty. “The economic and political developments in the Euro zone area and the US had their impact on markets around the world including India. The resolution of the ‘fiscal cliff’ in the US had a positive impact on the market worldwide, including in India. Further, the reform measures recently initiated by the government have been well received by the markets,” the Survey noted.
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