'India 8th-best emerging mkt'

In what could come as a respite for the political leadership, Morgan Stanley on Tuesday said India was the eighth best-performing emerging market in August and second-best performing Asian market, HT reports.

In what could come as a respite for the political leadership, Morgan Stanley on Tuesday said India was the eighth best-performing emerging market in August and second-best performing Asian market.

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"In August, India outperformed emerging markets and Asian markets," the report titled India Strategy: Retrospective August 2012 Atypical August said.

Indian have received strong foreign institutional investment in the past two months amid hopes that Indian companies could perform better in the second half of the year on promised economic reforms.

The report said that the FII flows were strong but domestic institutional flows remained negative.