Following a sharp recovery in the equity markets, Indian stocks have emerged as the second best performers as compared to their peers in three other BRIC nations -- Brazil, Russia and China, giving close to 20% return in April.
According to an analysis of MSCI Barra indices, a measure of returns from various stock markets across the world for foreign investors, Indian stocks have given the second highest return after Russia among the four BRIC countries during last month.
Indian stocks have provided a return of nearly 19.54% in April, while China and Brazilian markets have given 10.87% and 18.89% respectively.
However, Russian equities have managed to outperform the Indian stocks in the month as it provided investors with a positive return of over 21%, as per the analysis of performances of Morgan Stanley Composite Indices (MSCI) for various nations.
The 30-share benchmark index of Indian stocks, Sensex, gained close to 1,700 points in the month of April to settle at 11,403.25 points on April 29.
Indian stocks have even outperformed the MSCI Barra's emerging market index, which includes all the developing world markets, giving returns to foreign investors to the tune of 16.28% in the month.