While the global equity indices posted their best monthly gains in the last four years, Indian equity markets remained laggards during the current month.
While the global equity indices posted their best monthly gains in the last four years, Indian equity markets remained laggards during the current month.
Experts said that the lower than expected earning numbers from India Inc, uncertainty around the outcome of Bihar assembly election and India’s relative out-performance during the last two months led to subdued performance in October 2015.
Benchmark indices — the Sensex and Nifty managed to gain just 1.92 per cent and 1.47 per cent respectively in this month.
As compared to this, Nikkei 225, Hang Seng and Shanghai Composite delivered an impressive return of 9.75 per cent, 8.60 per cent and 10.80 per cent respectively.
Among the European markets, Germany’s DAX clocked the best monthly performance with 11.54 per cent gains while the Nasdaq Composite topped the US markets with 9.83 per cent gains.
“We outperformed the rest of the world during the beginning of this quarter when global stocks tumbled sharply following the sharp devaluation in Chinese currency and fear about a China led global economic slowdown.
Adding to that, the second quarter earnings results have also disappointed the market till now with sectors like IT, select stocks in FMCG and banks performing very badly,” said Ambareesh Baliga, a senior research analyst.
Others experts added that the improving macro-economic data in Europe and the US coupled has helped the developed markets to stage a strong rebound during this month.
