New Delhi,July 8 (): Contrary to low investor confidence prevailing in Indian stocks, it seems to have been rated as the seventh best performer for global investors since the beginning of 2012, putting behind the stocks of the US, UK, China and Japan.
As per a ranking prepared by Bank of America-Merrill Lynch, stocks were in the past weeks were helped by a significant up trend in the Indian stock market. The Indian stocks have given a year-to-date return of 12.3 per cent which makes it only the seventh best asset classes globally.
The six best return for this period has generated from the Turkey equities (29.2 per cent), followed by Portugal government bonds (24.7 per cent), Singapore stocks (17.3 per cent) and Mexico equities (15.5 per cent).
Among the bonds, the Mexico government bonds (14.7 per cent) and Turkey government bonds (14.6 per cent) are ranked the highest.
The Indian government bonds are ranked 36th in 2012 with a return of 2.9 per cent, which is still better than the Asian major economy and corporate bonds of China.
US, Hong Kong, Germany, Korea, Russia, China, Switzerland, UK, Japan and France are below Indian stocks. Due to rupee fall with dollar,Indian government bonds are ranked now at 40th with a negative return of 10.8 per cent for one-year period.
The study pointed out that the other equity markets globally have attracted net fund inflow of USD 840 million so far in 2012, but India has witnessed a net outflow of USD 297 million for this period starting 2012, in comparison with Greece, Portugal, Spain and Italy equities.
Indian stocks are ranked 7th with an 8.6 per cent gain. Trade analysts said industrial production numbers, to be released on July 12 , may also have some impact on the trading sentiment this week after a decline in March and a flat reading for April.