New Delhi

India’s equity market has outperformed most major global peers since June 18 with the Nifty 500 posting positive returns in US dollar terms even as benchmark indices across Asia, Europe and the United States declined, according to a report.

A report showed that Nifty 500 gained 2.81 per cent in dollar terms during the period, outperforming the S&P 500 which rose about 1 per cent, while the Nasdaq Composite fell 4.6 per cent.

Among Asian markets, South Korea’s Kospi was the worst performer, plunging 36.1 per cent. Japan’s Nikkei 225 declined 14.87 per cent, Taiwan’s TWSE dropped almost 13 per cent, while the MSCI Emerging Markets Index fell nearly 14 per cent. The broader Asia ex-Japan index lost about 15 per cent, the report showed.

The relative outperformance comes as Indian equities have staged a strong recovery in recent weeks, supported by robust corporate earnings and improving risk sentiment. On Monday, Nifty 500 closed at 23,566.60, an increase of 7.6 per cent from 21,895.90 on October 30, extending gains for a seventh straight session. Moreover, the index now trades about 2.4 per cent below its 52-week high of 24,144.

The report further highlighted that financial stocks led the recent rebound, rising 7.58 per cent over the week. Consumer cyclicals gained 5.65 per cent, while healthcare advanced 5.56 per cent. Corporate earnings have also reinforced investor confidence.

As of November 6, 331 Nifty 500 companies had reported results. Among 253 non-financial firms, median sales growth stood at 21.2 per cent, while median EBITDA growth came in at 19.8 per cent. Median profit after tax grew 16.5 per cent, with nearly 73 per cent of companies reporting profit expansion.

Financial firms, including banks, non-banking financial companies and insurers, reported median profit growth of 22.9 per cent. In addition, market sentiment has also been aided by softer crude oil prices and expectations of a potential US-Iran agreement which investors believe could ease concerns over energy costs, geopolitical tensions and supply-chain disruptions.