jeypore
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In a quarter where markets rebounded sharply from the depths of the bear market, India, Turkey and Argentina had the best-performing benchmark indexes in their respective regions.
India and Argentina, driven partly by election gains, took top honors in Asia and the Americas. The race in Europe came down to the wire, as Turkey won by a nose over Russia, whose benchmark index nearly took the lead on the quarter's last day.
In India, the Bombay Stock Exchange's benchmark Sensitive Index, or Sensex, was up 49% on the quarter, at 14493.84. It is up 50% on the year. Sentiment was helped by the strong victory by the ruling United Progressive Alliance, led by the Congress party, in mid-May; the Sensex leapt 17% the day after the election and the exchange closed after trading curbs kicked in.
In Turkey, the benchmark National ISE 100 rose 43% to 36949.20, up 38% on the year, as emerging-market sentiment improved. However, Russia's benchmark RTS Index gave it a run for the money, rising 43% on the quarter at 987.02, up 56% this year.
In Argentina, the benchmark Merval index gained 41% to 1587.97, up 47% on the year. The gain mirrored the rise in crude-oil prices and, as the quarter drew to a close, was helped by the ruling coalition's losses in midterm congressional elections. Investors see hope for a friendlier environment for business and foreign investment.
World Beaters: India, Turkey and Argentina - WSJ.com
India and Argentina, driven partly by election gains, took top honors in Asia and the Americas. The race in Europe came down to the wire, as Turkey won by a nose over Russia, whose benchmark index nearly took the lead on the quarter's last day.
In India, the Bombay Stock Exchange's benchmark Sensitive Index, or Sensex, was up 49% on the quarter, at 14493.84. It is up 50% on the year. Sentiment was helped by the strong victory by the ruling United Progressive Alliance, led by the Congress party, in mid-May; the Sensex leapt 17% the day after the election and the exchange closed after trading curbs kicked in.
In Turkey, the benchmark National ISE 100 rose 43% to 36949.20, up 38% on the year, as emerging-market sentiment improved. However, Russia's benchmark RTS Index gave it a run for the money, rising 43% on the quarter at 987.02, up 56% this year.
In Argentina, the benchmark Merval index gained 41% to 1587.97, up 47% on the year. The gain mirrored the rise in crude-oil prices and, as the quarter drew to a close, was helped by the ruling coalition's losses in midterm congressional elections. Investors see hope for a friendlier environment for business and foreign investment.
World Beaters: India, Turkey and Argentina - WSJ.com
