An analysis of major Asian countries' stock indices show that the 30-share Sensex gave the second maximum cumulative returns, while the highest return was given by Indonesia's benchmark Jakarta Composite Index, the Economic Survey 2011-12 said.
The market valuation of Indian stocks is currently the second highest among emerging markets with the Sensex trading at a price-to-earnings multiple of 23.27 times
Benchmark shares indices end flat on Tuesday, amid a volatile trading session, as gains in financials and telecom shares were erased by losses in FMCG and IT stocks. The 30-share Sensex ended up 27 points at 17,426 and the Nifty added nine points at 5,288.
Boosted by a strong recovery in 2009, 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).
Shanghai tops returns charts among emerging markets.
Combined net profit of BSE500 companies at $ 63 bn is 2.3% of GDP; global average is 5%.
Mixed global cues and decline in crude oil prices further dent the sentiments.
Experts suggest domestic factors rather than the Greece crisis would determine the course of the Indian equities.
The Sensex ended in red on domestic concerns.
Custodian banks are selling dollars for their foreign fund clients.
Indian companies typically have higher return on equity.
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