‘In­dian mar­kets per­form­ing bet­ter’

The New Indian Express - - BUSINESS -

THE per­for­mance of In­dian cap­i­tal mar­ket com­pares favourably well with the ma­jor global mar­kets in terms of their re­turns as well as volatil­ity and cur­rency movements, said Ajay Tyagi, chair­man of Se­cu­ri­ties and Exchange Board of In­dia (SEBI).

“Dur­ing April-Novem­ber 2018, re­turn of Nifty has moved up by about 6.5 per cent. Though trail­ing the re­turn of Dow Jones’ 8 per cent, it is 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),” he said. Glob­ally, cap­i­tal mar­kets have been quite volatile this year and are likely to re­main so due to var­i­ous fac­tors, Tyagi added. In terms of volatil­ity, In­dian eq­uity mar­ket, at 12 per cent, is amongst the low­est com­pared to ma­jor de­vel­oped and emerg­ing mar­kets.

On the liq­uid­ity crunch since Septem­ber, specif­i­cally by the NBFCs and HFCs, Tyagi said much has im­proved on steps taken by the RBI to pro­vide sys­temic liq­uid­ity.

On reg­u­la­tory changes with re­la­tion to mu­tual funds post the liq­uid­ity cri­sis, he said SEBI is in con­sul­ta­tion with the mu­tual funds in­dus­try for changes.

Ajay Tyagi

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