The Chinese Intraday market is trading at a 40 percent discount to MSCI India on a forward price-to-earnings basis, In contrast, benchmark indexes in India have hit record highs and valuations are on par with 10-year averages.
Meanwhile, Indian rupee breached the 62-mark against the dollar in early trade. It opened higher by 19 paise at 61.82 as compared to Tuesday's close of 62.01.Indian market went down as traders resorted to profit-booking ahead of the Reserve Bank of India's policy meet. Mixed global cues before the US Federal Reserve starts its two-day meeting, also affected domestic sentiments. Nifty went down by 15.65 points, closed at 6139. Sensex down by 47.38 points, closed at 20612. Europe is trading in red.
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