Over the past two years, India's major stock indices have underperformed compared to most global markets. An investment of ₹100 in the Nifty 50 in October 2024 is now worth just ₹92.7, marking a 7.3% loss. The Sensex fared even worse, with the same ₹100 investment now valued at ₹91.7, an 8.3% decline. Only Indonesia’s Jakarta Composite performed worse, with a 32.2% loss.
Meanwhile, precious metals outperformed Indian equities. ₹100 invested in spot silver is now ₹181.8, while spot gold stands at ₹156.5. In contrast, the Nifty 50’s ₹92.7 return lags behind both metals. Gold has slightly decreased from ₹161.8 a year ago, while silver has risen from ₹171.2.
Several international markets saw significant gains. South Korea’s Kospi turned ₹100 into ₹217.1, a 117.1% increase. Taiwan’s Taiex more than doubled, reaching ₹204.7. Japan’s Nikkei 225 gained 66.7%, while Brazil’s Ibovespa rose 56%. All three US indices also posted gains, with the Nasdaq, S&P 500, and Dow turning ₹100 into ₹144.3, ₹132.5, and ₹122.0, respectively.
European markets also performed well, with the UK’s FTSE 100 up 30.6% and the Eurozone’s Euro Stoxx 50 rising 26.8%. In Asia, Singapore’s STI, Hong Kong’s Hang Seng, and China’s Shanghai Composite all finished ahead of India’s Nifty 50, with returns of ₹150.8, ₹119.2, and ₹116.0, respectively.