Boosted by a strong recovery in 2009, the Indian stock market emerged as the second best performer among global peers in the past six years with a return of 199 per cent for investors, the Economic Survey said.
For the six-year period ending December 2009, the Indian stock market benchmark Sensex posted a positive return of 199.1 per cent with the index at 17,465 points.
The Indonesian market has given the biggest return to investors, as Jakarta Composite Index registered a jump of 264.1 per cent to 2,510 at the end of December 2009, the Economic Survey tabled in the Parliament stated.
The Japanese market was the only one to have recorded negative returns in the period under review. The third best six-year return of 116.9 per cent was given by China, followed by 104.4 per cent in South Korea and 74.2 per cent in Hong Kong, the Survey said.
As per the Survey, this time Indian stock market has posted better returns compared to the 65.2 per cent returns for five-year period ending 2008. At the end of 2007, Indian markets gave a record high return of 247.4 per cent over 2003- end level, it was lower than 296.8 per cent return in Indonesia.
"During 2009, the Asian stock markets were on recovery path. The cumulative change in global indices in end December 2009 over the end December 2003 level revealed a significant rise in these indices across countries," the pre-budget Survey of 2009-10 showed.
In 2006 as well, the returns given by the country's benchmark index Sensex of 136.1 per cent was second to Indonesia's 161 per cent, and in 2005, Indian stocks were behind South Korea (69.7 per cent) and Indonesia (68.1 per cent).
During 2009, the decline in indices was seen in only Japanese market, with Nikkei 225 witnessing a fall of 5.3 per cent. Japanese market has performed well last year as compared to 2008, where it saw a a cumulative fall of 22.9 per cent.
Meanwhile, other leading indices in the region which witnessed a cumulative gain in the six-year period include China's SSE Composite Index (116.9 per cent) Kospi index of South Korea (104.4 per cent), Hong Kong's Hang Seng index (74.2 per cent), Malaysia's Kuala Lumpur Composite Index (58.7 per cent) and TSEC weighted index of Taiwan (32.3 per cent). Amongst, the India's National Stock Exchange, both Nifty and Nifty Junior recorded annual equity returns of 75.8 per cent and 128.6 per cent, respectively in 2009.
