India’s prospects appear to be stronger than most emerging markets but this cheerful outlook for the economy will not insulate domestic equities from a further selloff by foreign investors.
BSE today ordered suspension of trading in shares of as many as 20 companies, including Austral Coke & Projects and Dunlop India, from August 28 until further notice.
South African stocks rebounded, taking the main indices to their biggest one-day gain in about eight months, as they tracked gains by other emerging market equities.
Markets rebounded with world stocks, oil prices and bond yields all rising after China cut interest rates and banks' reserve requirements in a bid to kick-start its wavering economy.
Euro zone bond yields shot higher after a brace of solid economic releases in Europe and the U.S, and a rate cut in China which quelled angst over a slowdown.