Indian stocks 7th best globally: BofA
Helped by a significant uptrend in the Indian stock market in the past couple of weeks, the Indian stocks have given a year-to-date return of 12.3 per cent -- which is only next to six other asset classes globally, as per a ranking prepared by Bank of America Merrill Lynch.
The best return for this period has come from the Turkey equities (29.2 per cent), followed by Portugal government bonds (24.7 per cent), Singapore stocks (17.3 per cent), Mexico equities (15.5 per cent), Mexico government bonds (14.7 per cent) and Turkey government bonds (14.6 per cent).
The Indian government bonds are ranked 36th for the year-to-date period in 2012 with a return of 2.9 per cent, which is still better than the corporate bonds of China and Japan, stocks in Canada, Indonesia, Italy, Brazil, Portugal and Spain, as also government bonds in the UK, Canada, Hong Kong, China, Germany, Japan, Spain and Greece.
Those ranked below Indian equities include stocks in the US, Hong Kong, Germany, Korea, Russia, China, Switzerland, UK, Japan and France.
The rankings also take into account the currency exchange rates, as returns are based on the US dollar figures for all the asset classes.
However, Indian stocks have performed badly for a longer time period of the past one year, for which they are ranked at the bottom of the top-50 asset classes globally with
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