While Nifty’s gain since January 1 is 9 per cent, over the last six months it has gained 21 per cent and is the best performing index among the top 20.
Despite Nifty’s dollar adjusted gains rising to 9 per cent for the year-to-date period, its ranking dropped to 13 among the 20 most-followed global market indices. The Chinese and the Russian indices remain the top two performers with 35 per cent and 28 per cent year-to-date gains, thanks to the strong fund flows in the emerging markets.
Nifty’s performance continues to be driven by FII-heavy and index heavyweights Reliance Industries, TCS and Axis Bank, gaining 24 per cent, 13 per cent and 23 per cent, respectively. Among the top 15 FII-heavy stocks, L&T, HUL and Maruti Suzuki are the only three with negative returns. The US dollar remained flat against the India currency in the year to date period at 69.4.
While Nifty’s gain since January 1 is 9 per cent, over the last six months it has gained 21 per cent and is the best performing index among the top 20. Over the past one year, it has gained 6 per cent, dragged by a fall in the rupee. However, the Indian index was the second-best performer after the Dow Jones Industrial Average.
FII selling to moderate further and may shift towards buying; expect 12% Nifty return over 2-3 years: Prashant Jain2025-04-08T07:35:25Z
