2014.08.1300:50:36UTC+00Emerging stocks climb on Indian rally led by Tata Motors

Emerging-market stocks rose bolstered by technology shares and Tata Motors corporate earnings that lifted Indian equities. However, despite the emerging-market stock posting its largest two-day increase last seen on March, there are still laggards like Brazil’s Petroleo Brasileiro. The oil company led the decline in the Ibovespa Index.

The MSCI Emerging Markets Index rose by 0.3% to 1,064.42, the gains for the past todays totaling to 1.8%. The gauge rebounded in the previous trading day from a four day losing streak as the geopolitical tension in Ukraine eased. The index was also lifted by the Russian stocks sell off that drove the valuations of the Micex Index into its lowest in three months. The best performer among the ten industry groups in the gauge is the emerging technology gauge which is on its second day of increase as well.

India’s S&P BSE Sensex rallied to its sharpest incline, led by Tata Motors Ltd. which jumped in the trade as it reported an income that was threefold its previous report. It was the largest gain for the company since September of last year. Russia’s Micex Index added nearly 0.1% making for a three-day winning streak. Taiwan’s Catcher Technology Co. surged 5.4% following a better-than-expected operating profit report.

Co-head of global emerging markets at Espirito Santo Investment Bank, Nick Paulson-Ellis, commented to Bloomberg that the developing countries’ performance are marginally better as concerns for the geopolitical issues ease along with a good performance from Tata Motors. Paulson-Ellis adds that the Russian stocks are looking at a “relief rally” as the impact of the sanctions are still settling in with the investors.