NEW YORK ( TheStreet) -- The U.S. blue-chip indices S&P 500 Index and Dow Jones each closed 0.1% lower, when juxtaposed with the significant positive performance of the emerging markets. Among emerging markets, the Shanghai Composite clocked highest gains, up 4.9%, as China's exports recorded higher-than-estimated growth of 38%. India's Nifty and Brazil's Bovespa followed, rising 5.2% and 4.2%, respectively.

The major cause of the decline in U.S. exchanges was surging crude prices, as the political unrest flaring across the Middle East could be a major drag on economic recovery. Head of Investment Services at JPMorgan Asset Management believes that rising crude prices are unlikely to derail economic recovery in emerging markets. Further, the decline in EMs may not be as hard as that expected in developed markets for the simple reason that EMs have a greater capacity to absorb spiking crude prices as economic growth in these countries seems much faster than the developed nations.

As per research company EPFR, emerging market equity funds reported net outflows of $2.5 billion during the week Feb. 23 to March 2, compared to $1.9 billion in the prior week. Meanwhile, as geopolitical worries in the Middle East escalate, rising crude prices could pressure inflation rates in the developing economies' inflation rates it is estimated equities may face a fall in the upcoming few months.

Meanwhile, findings of a research study from BarCap indicate that oil price increases would increase current account balance of a few of the emerging market economies' or would have a minimal adverse impact on the same.

A few emerging market ADRs generated lucrative returns for investors during the past one month, while a few, as per analysts' estimates, have potential upsides in the next 12 months. We present 10 such stocks, which gained 11%-89% in the past month.

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