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International Finance: World-beating India stocks cement haven status with new record

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Having emerged as a safe haven amid this year’s global equity rout, Indian stocks look poised to extend their lead over world peers and finish 2022 on a high.

“Amidst the noise of markets around the world today, India is sending the right signals,” said Vikas Pershad, a fund manager for Asian equities at M&G Investments Pte. “There remains much to like about the opportunity set in India, whether judged in absolute or relative terms. The probability that we see continued outperformance is high.”

India has also been a beneficiary of this year’s relentless plunge in China that’s spooked global funds. While theyChinese equities in October, Indian shares witnessed an inflow. Overall, foreigners have bought a net $2.5-billion of India stocks so far this quarter after scooping up $6-billion in the previous three months.

 

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