 "For a liquid secondary market")
India, emerging markets diverge
The Indian market is up 13 per cent year to date, outperforming the MSCI Emerging Market (EM) index, which is down nine per cent. Such a huge divergence is a rarity as India and EMs, typically, move in the same direction. What has played in India’s favour this year is exactly what has gone against the EM index—performance of heavyweight stocks. In the MSCI EM index, China’s Tencent and Alibaba have the highest weightage. The former is down 18 per cent this year, while the former is trading flat. On the other hand, India’s two bigwigs Tata Consultancy Services and Reliance Industries have gained 54 per cent and 35 per cent, respectively. - Samie Modak
Broker lobbies integrate
Two of the country’s biggest broking lobbies are planning to merge to consolidate their investor base. The Association of National Exchanges Members of India (ANMI) and BSE Brokers Forum have finalised the operational and execution plan to merge, said people in the know. Both bodies provide professional assistance and guidance to trading members and also safeguard their interests. "The merger will strengthen operations and lead to the growth of the industry. The new body will try to be a bridge between brokers and regulatory bodies such as the regulator, stock exchanges and the government," said a person privy to the development. - Shrimi Choudhary
