HIINDIA.COM
South Asian Views On Global News - Update 24X7

Indian stock market multiplied 4 times compared to zero returns for China since 2010

BUY-SELL | HELP WANTED | MATRIMONIAL

Indian stock market multiplied 4 times compared to zero returns for China since 2010February 12, 2024Mumbai, Feb 12 (IANS) The Chinese market’s underperformance has been stark for many years now, said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.In early 2010, the Shanghai composite index was around 3,000. Now it is below that level at around 2,865: No return during the last 14 years. In sharp contrast, Nifty was around 5,000 in early 2010 and is now above 21,500, multiplying more than four times during 14 years, he said.This contrast in performance is reflected in the valuations too; while Nifty is trading at above 21 times the estimated FY24 earnings, Shanghai composite is trading at only 11.5 times, Vijayakumar added.The Chinese economy is going through difficult times with sharply slowing growth, rising unemployment and the real estate market in serious crisis. India will certainly attract more capital flows. The concern is the high valuation in India, he said.All the emerging market indices saw negative performance in January with China being the worst performer at 10.6 per cent. As far as developed markets are concerned, Japan emerged as the best performer at 4.6 per cent, as per a report by Motilal Oswal Asset Management Company.Nifty 50 declined by -0.03 per cent in January 2024. However, the index has shown positive growth since the past year, the report said.–IANSsan/arm

Replica of Print on your device!

CLICK & Send us 'hi' for Free Subscription

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept