14.7%: The NSE Nifty’s returns for April 2020 in local currency terms —
the most among major world markets.
- Indian equities were among the best performers globally in April, despite it being a washout month for economy.
- In local-currency terms, India at the top was followed by South Africa (13.8% returns), Taiwan (13.2%) and the US (12.7%)
- In dollar terms, India’s 14.9% returns were second only to Taiwan’s 15.2%.
- Some experts, however, believe Indian markets’ performance in April, the best monthly showing in 11 years, might be on a weak footing in the absence of any fundamental base.
- Already, Indian markets have kicked off May with a sharp underperformance
- Many brokerages have now lowered their stance on the domestic market.
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