Nifty 500 outpaces major global peers with 2.81% dollar return since June

• The Nifty 500 gained 2.81 per cent in US dollar terms since 18 June, outperforming several major global indices

• The index ended Monday at 23,566.60 after seven consecutive sessions of gains, about 2.4 per cent below its 52-week high

• Strong corporate earnings, softer oil prices and hopes of easing US-Iran tensions supported the recovery

Indian equities have delivered stronger returns than several major international markets since 18 June, with the Nifty 500 gaining 2.81 per cent in US dollar terms, according to an NDTV Profit report.

The broad-based Indian index surpassed the S&P 500’s roughly 1 per cent rise over the period, while the Nasdaq Composite declined 4.6 per cent.

Asian markets recorded substantially steeper losses. South Korea’s Kospi fell 36.1 per cent, Japan’s Nikkei 225 dropped 14.87 per cent and Taiwan’s TWSE lost almost 13 per cent. The MSCI Emerging Markets Index declined nearly 14 per cent, while the broader Asia ex-Japan index shed about 15 per cent, the report said.

India’s relative strength follows a sustained recovery in domestic stocks, supported by corporate results and improving investor sentiment.

On Monday, the Nifty 500 finished at 23,566.60, extending its winning run to seven sessions. The close represented a 7.6 per cent increase from its 30 October level of 21,895.90 and left the index about 2.4 per cent below its 52-week peak of 24,144.

Financial stocks led the weekly advance with a gain of 7.58 per cent. Consumer cyclicals rose 5.65 per cent, followed by healthcare at 5.56 per cent.

Earnings figures also pointed to growth across much of the index. By 6 November, 331 Nifty 500 companies had announced their results.

Among 253 non-financial businesses, median sales increased 21.2 per cent, while median earnings before interest, tax, depreciation and amortisation grew 19.8 per cent. Median profit after tax rose 16.5 per cent, with nearly 73 per cent of companies recording higher profits.

Financial companies, including banks, non-banking financial companies and insurers, posted median profit growth of 22.9 per cent.

Softer crude prices and expectations of a possible US-Iran agreement also helped sentiment, as investors anticipated relief from energy costs, geopolitical uncertainty and supply-chain pressures.

With IANS inputs