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Equity Market Overview
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February 2012
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Indian markets outperformed by a wide margin
| • | Performance of Indian equities in January mirrored the rally in the global equity indices. The Sensex was one of the major underperformers in 2011 but began the year on a strong note. The Sensex rallied 11% vs 8%, 3% and 11% for Nasdaq, Dow Jones and HSI respectively |
| • | Among individual sectors, the capital goods, real estate and banking indices rebounded strongly |
| • | This earnings season was widely expected to be tough given the impact of unfavourable global economy combined with domestic headwinds of high interest costs and forex fluctuation impact. In this backdrop, the earnings of frontline companies have not been disappointing and have been largely in-line |
Markets rallied on the back of strength in US economy and successful bond auctions
| • | For the month, most major markets posted gains. Global markets commenced the year on a strong note aided by continuing strength in US economic growth despite the ongoing crisis in the Eurozone |
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