India is set to end 2018 as the best-performing Asian market and the best-performing major global market after Brazil. The Sensex is up nearly 6 per cent this year. Domestic stocks have fared better than most global equities.
The MSCI Emerging Market and MSCI World indices are down 16 per cent, amid declines in the US and China markets. Economic uncertainty in the US and trade tensions with China have been a source of volatility for global markets. A sharp decline in oil prices and strong buying by domestic funds have helped Indian markets withstand global volatility since October.