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Has the Nifty outperformed BRIC stock indices this year?
It's been a volatile year thus far for equities around the globe, with an emerging market currency threat and then the subsequent QE3 tapering news. Not all BRIC (Brazil, Russia, India, China) nation stock indices have done well this year. Check the outperformers.
Brazilian stock indices are the worst performers this year
Brazil's BOVESPA index began the year at a level of 50,341 points and on Feb 19 closed at 47,160 points - a loss of 6.24% since the beginning of the year. Low growth rate and stubborn inflation continue to bog down the economy of Brazil, which to a large extend depends on commodity prices. All eyes are on the FIFA World Cup Football to be staged in the country later this year, which analysts hope will temporarily boost growth.
The clear outperformer
Russia's MICEX is one index from among the BRIC nations that is currently trading with gains. The MICEX is up 1.33 per cent, since the beginning of the year, thanks to stability in energy prices. In fact, Russia is one of the biggest producers of oil and gas and its economy is largely linked to energy prices. Also, low price to earning multiples makes stocks from the country fairly attractive.
Not the best performing as yet
India's Nifty has fallen 2.36 per cent, year to date. Fed tapering, stubborn inflation and low growth still make foreign investors a little skeptical while investing. Most investors are eyeing the General Elections due in April-May before committing more money.
Trading with gains
The Chinese Shanghai Composite like the Russian Micex is up this year. The index has gained slightly in excess of 2 per cent this year. However, credit bubble worries and crash landing of the economy continue to worry investors.
