Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

No more a laggard, Indian stocks best MSCI EM Index

If the current momentum of fund flows continues, the country could witness the highest foreign fund inflows since 2014.

, ET Bureau|
Nov 01, 2019, 07.59 AM IST
0Comments
Getty Images
markets4-getty
The consensus 12-month rolling projected earnings per share of the Nifty 50 is up 3.5 per cent at Rs 646 from Rs 624 before the tax cut announced in September.
Global investors appear to be reversing their stance on Indian equities, after pulling out record amounts in July and August.

They have net bought $9.9 billion of Indian equities since the beginning of the year, one of the highest among major emerging markets, according to Bloomberg. Inflows during September-October were $2.75 billion. If the current momentum of fund flows continues, the country could witness the highest foreign fund inflows since 2014.

Indian equities have outperformed the MSCI EM index — a gauge of developing nations’ equities followed by global fund managers — by 4 per cent in the past three months, thanks to earnings upgrades following the government decision to cut corporate tax rates. The consensus 12-month rolling projected earnings per share of the Nifty 50 is up 3.5 per cent at Rs 646 from Rs 624 before the tax cut announced in September. The valuation premium of Indian equities has now climbed to 51 per cent against the long-term average of 33 per cent.
stock-graph

Also Read

Stock market update: 39 stocks hit 52-week lows on NSE

Stock market update: Realty stocks rise ahead of RBI's policy outcome

Stock market update: 29 stocks hit 52-week lows on NSE

Stock market update: Cement stocks advance; Keerthi Industries jumps 5%

Stocks market update: Sugar stocks soar; Dhampur Sugar climbs 3%

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service