>TWIN PILLARS OF EMERGING MARKET (MICROSEC)

■ India and China registered PMI (Purchasing Managers Index) value of 57.2 and 55.7 respectively for the month of Apr 10’. Manufacturing activities in both India and China continued to improve. Since Dec 2008, India registered a higher PMI than China in first four months of CY2010.

■ India’s PMI has outperformed China in 10 out of 17 months. India’s PMI decreased from 57.8
to 57.2 on a sequential basis, while during the same period, China’s PMI increased from 55.1 to 55.7.

■ China’s HSCEI curved in by 4.06% and domestic market (Shanghai composite) decreased by 8.79% in last one month. In comparison, Nifty outperformed the former indices during the same period.

To read the full report: INDIA STRATEGY