EQUITIES HAVE DONE WELL, SAYS TYAGI

Sebi chairman Ajay Tyagi on Friday said the Indian markets had performed well despite facing headwinds from both domestic and global markets. While addressing a capital market seminar organised by CII, the Sebi chief said the global volatility in the financial market is likely to continue in view of the uncertain oil prices, USChina trade dispute and normalisation of monetary policy by central banks across jurisdictions.

According to him, the Indian markets performed well on parameters such as indices returns, volatility and currency movements amidst challenging environment. “In terms of volatility, indices return, Indian markets have not performed much worse. In fact, they have been better off when you compare with either major developed economies or emerging markets,” he said.

The Nifty gained 6.5 per cent between April – November 2018. Though its lower than the 8 per cent return generated by Dow Jones, it is still higher than the return of stock indices of other countries such as UK (- 1 per cent), China (- 18 per cent), Brazil ( 5.7 per cent) and Japan ( 4.5 per cent).

“In terms of volatility, Indian equity market, at 12 per cent, is amongst the lowest compared to major developed and emerging markets like UK ( 12 per cent), US ( 16 per cent), China ( 19 per cent), Japan ( 17 per cent), South Korea ( 14 per cent), Hong Kong ( 19 per cent) and Brazil ( 21 per cent),” Tyagi added.