ET: Indian stocks worst BRIC performers in 2008

With the bears strengthening their hold on the domestic stock market, Indian equities have given the worst returns to investors compared to their peers in the three other BRIC nations Brazil, Russia and China so far this year, according to the Economic Times.

Analysis of MSCI Barra indices, which measures returns of various stock markets across the world for foreign investors, Indian stocks have given the highest negative return among the four BRIC countries till July 11. Indian stocks have provided a negative return of over 41 per cent so far this year, while China and Russian markets have given losses of 25.55 per cent and 10.15 per cent, each.

Snap news: Markets and Rupee crumble

Bombay Stock Exchange’s Sensex index was down more than 4 per cent in early trading on Friday on the back of Wall Streets falls and fears of more bad news on inflation, which is expected to increase to 11.29 per cent. The rupee also fell sharply against the dollar after crude reached a new record high yesterday at $140.39.

The Sensex was down 4.3 percent, or 615.68 points, at 13,806.54 with all its components were in the red, according to Reuters.

The rupee dropped as much as 0.5 percent to 42.885 against the dollar before trading at 42.8225 as of 10:22 am in Mumbai, according to Bloomberg.

Main stocks at a glance: