News: 'India is 3rd most preferred Asian equity mkt'

(PTI 09/09/2006) New Delhi - The growth story of Indian stock market looks like it has come to stay going by a global survey of emerging market fund managers, which ranks the country as one of the favourite Asian destinations ahead of China, Russia, Thailand and Pakistan.

According to the survey, conducted by global equity research firm Standard & Poor's, India is the second most preferred market among the BRIC (Brazil, Russia, India and China) countries after Brazil.

Among the Asian equity markets, India has grabbed the 3rd position after Korea and Taiwan, S&P said in a report. The country has been placed at 9th position among the 27 emerging markets in the survey, while South Africa, Mexico, Israel, Brazil and Korea have grabbed the top five positions.

The report said, "The story for equities in emerging markets in the last couple of decades has been one of explosive growth. Not only are domestic investors in these markets finding equity investing an attractive option, but so too are investors from around the world."