Global equity 10-year performance tracker: India Nifty 50, Brazil Bovespa or Japan Nikkie 225; which index topped the tally in last decade?

Welcome to TrendMap, your guide to investment performance. This edition tracks 10 years of global equity returns. Currency fluctuations impact the returns on foreign investments. To capture the real value from an Indian investor’s standpoint, these returns are adjusted to reflect their equivalent in Indian rupees. The key takeaway: no market dominates, diversification matters.

Source: Reuters-Refinitiv. Calendar year returns calculated between the first and the last trading day closing values. Returns are normalised to Indian rupee. The 10-year return is the compounded average return.

In 2025, global equity market performance varied significantly across regions. Cyclical, commodity-driven markets posted robust gains, while many of the traditional growth leaders struggled to keep pace. Brazil and Mexico stood out, benefiting from higher commodity prices and better valuations. Conversely, India and the United States ranked among the weakest performers, weighed down by high base effects and investor fatigue over stretched valuations.


Brazil has continued to lead in long-term equity performance, driven by recurring commodity upcycles in iron ore, oil, and agricultural products, alongside elevated interest rates that drew global capital inflows. Although India’s equity benchmark underperformed in 2025, it remains the third strongest index over the past decade, highlighting its resilience and enduring attractiveness to investors.