World markets shrugged off the US default fears arising out of the more-than-two-weeks of government shutdown in October with handsome gains of $1.5 trillion in market wealth,or a 3.8 per cent rally,with 44 of the 46 markets covered ending the month in the green.
For October,the markets padded up their September gains of 5.27 per cent,with a broad 3.78 per cent gain overall. While the developed markets added 3.68 per cent,emerging ones added 4.69 per cent,with 44 of the 46 markets gaining for the month, senior index analyst at S&P Dow Jones Indices Howard Silverblatt said in a report.
The year-to-date gains for developed markets are an impressive 20.19 per cent,with the ex-US gain being 15.99 per cent. The US is up 24.29 per cent year-to-date. On the overall wealth creation,the report said the market has added $1.5 trillion to the shareholders wealth in October taking the overall wealth increase to $6.7 trillion year-to-date.
While with an 11.07 per cent rally,after a bloodbath of 17 per cent in the previous two months,the Sensex topped the emerging markets indices,while the Nikkei of Japan is the sole loser in amongst the developed market indices with a minor 0.04 per cent fall for the month.
However,the report notes that uncertainty continues to remain high globally,but investors appear to want to be in the market.