Indian stocks emerged as the best performers among all emerging markets across the globe, giving the highest return of over 3 per cent on the day before the outcome of the general elections.
According to an analysis of MSCI Barra indices, a measure of returns from various stock markets across the world for foreign investors, Indian stocks gained 3.21 per cent on Friday last week on expectations of formation of a stable government.
The various emerging markets across Asia, Europe and Latin America underperformed the Indian stocks that day giving returns between 0 and 2 per cent.
Indian stocks also outperformed its peers from the BRIC nations with Chinese equities advancing 1.43 per cent, Russia 0.33 per cent and Brazil gaining 0.24 per cent.
The 30-share BSE Sensex gained over 300 points to settle at 12,173 points on May 15.
Indian stocks have even outperformed the (Morgan Stanley Composite Index) MSCI Barra's emerging market index, which includes all the developing world markets, giving returns to foreign investors of 1.22 per cent on May 15.