India's Nifty 500 index outperformed major global markets since June 18, gaining 2.81% in dollar terms. While the Nasdaq fell 4.6% and the Kospi dropped 36.1%, Indian stocks showed strength. The Nifty 500 also rose 7.6% in rupee terms between October 30 and November 9, supported by healthy corporate earnings.
India's equity market has outperformed several major global peers in dollar terms since June 18, with the Nifty 500 index gaining 2.81% even as South Korea's Kospi plunged 36.1%, according to Sameer Arora of Helios Capital.
In a post on X, Arora shared a comparison of global market returns in US dollar terms. The Nifty 500 was ahead of the S&P 500, which gained 1.03%, while the Nasdaq Composite declined 4.6%. Japan's Nikkei 225 fell 14.87%, Taiwan's TWSE dropped 12.8%, and the MSCI Emerging Markets index lost 13.96%. The broader Asia ex-Japan index declined 15.1%.
The Kospi was the worst performer among the indices in the comparison, falling 36.1%.
Nifty 500 Gains 7.6% In Rupee Terms Since October 30
The domestic benchmark has also recovered in recent sessions aided by healthy September quarter performance by India Inc. The Nifty 500 closed at 23,566.60 on November 9, up 7.6% from 21,895.90 on October 30. The index advanced in each of the seven subsequent trading sessions, investingdotcom data showed.
It is now around 2.4% below its 52-week high of 24,144, while its 52-week low stands at 20,386. The index has a market capitalisation of around Rs 430.22 lakh crore and a price-to-earnings ratio of 22.1.
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Financials led the recent sectoral recovery, gaining 7.58% over the week, followed by consumer cyclicals at 5.65% and healthcare at 5.56%, according to the market performance data.
Q2 Earnings Provide Support
Corporate earnings have also offered support to the recovery. According to MarketSmith India's Q2 FY27 scorecard, 331 Nifty 500 companies had reported results as of November 6.
Among 253 non-financial companies, median sales growth stood at 21.2%, while median EBITDA growth was 19.8%. Median profit after tax (PAT) increased 16.5%. As many as 72.7% of these companies reported higher profits.
Financial companies also reported median PAT growth of 22.9%, based on 78 banks, non-banking financial companies and insurers.
The recent recovery has also coincided with a decline in crude oil prices and hopes of a potential US-Iran agreement, which could ease concerns over geopolitical risks, energy costs and supply-chain disruptions.
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