India outperforms other markets in region
16 Aug 2007
India has not been spared by the subprime shockwave, but the market has outperformed other markets in the region, reports CNBC-TV18.
India has seen the smallest correction so far, and has lost 7 per cent in last one month, which is next only to China, which has gained 6 per cent and Russia.
India has outperformed emerging markets in a decline though volatility has been sharper than usual. Indian markets have witnessed eight corrections of 5 per cent or more during the 4-year bull-run.
Past falls have lasted for about 15 days causing 15 per cent damage from top whereas past rallies after falls have been substantially strong.
Though India has no direct exposure to the issues that plague the US subprime market, this time the problem is more broad-based and global.
Given that the risk re pricing and US growth outlook uncertainty, unstability in India is likely to stay.
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