India Traders Outplay Rivals On Football Pitch

A three goal to nil victory in the final saw the Indians lift the trophy with a team made up of players from ING Barings, HSBC James Capel, Lehman Brothers, Merrill Lynch and Peregrine.

We were stunning, said a market maker in the winning team. It is probably the first time we have won anything, he added.

The Indians' gritty performance on the football field has not been matched by the market they trade. Indian GDRs are down nearly 19 per cent this year and close to seven per cent in the past quarter, while some East European markets are up 50-100 per cent.