INSUBCONTINENT EXCLUSIVE:
It makes sense for investors to track dollar returns of stocks and indices
Not only is it important in global sense given that foreigners own more than 40 per cent of Nifty, it is also an accurate reflection of
outperformed MSCI World index by 9 per cent
Indian markets in dollar terms are up 11 per cent during same period, one of only two markets to give positive return.
While in rupee terms
Nifty is up 4.8 per cent, a 6 per cent rise in rupee against greenback has led to its dollar return of 11 per cent
After weeks of underperformance, IT stocks showed some strength in last one week
Infosys with a 4 per cent gain was top gainer among top 15 FII-heavy stocks
ICICI Bank, HDFC and Bajaj Finance gained 2.8 per cent, 2.5 per cent and 1.8 per cent, respectively
one year too has remained impressive in dollar terms in comparison with global markets
Although 2018 was a bad year for equities with all 15 most-tracked global indices giving negative returns
Indian markets with a negative 6 per cent return was third best performer after Brazil (negative 5.2 per cent) and US (negative 5.6 per
cent), according to Bloomberg
negative.
TOP PERFORMERS OF 2018Of top 15 FII-heavy stocks, Bajaj Finance was best performer with a 38 per cent gain in dollar market
capitalisation (52 per cent in rupee value)
Since October, it has gained 35 per cent in dollar value (27 per cent)
rupee gain); however, since October, it has lost 2.4 per cent in dollar value (and 8 per cent in rupee terms)
HUL with 20.3 per cent return is third-best performer.
TOP PERFORMERS IN THE PAST THREE MONTHSBajaj Finance remained top with 35 per cent
dollar returns (26.9 per cent in rupee terms), followed by ICICI Bank with 26.4 per cent returns (19.1 per cent in rupee terms)
HUL with 24.9 per cent return (18.8 per cent in rupee term) was third-best performer.
