Indian Stock Market Outperforms Global Indices as Nifty 500 Index Rises 2.81% in Dollar Terms

New Delhi, November 10 (Daily Kiran) : The Indian stock market has outperformed global markets since June 18, with the Nifty 500 Index recording a return of 2.81% in dollar terms. In contrast, the U.S. S&P 500 index has only managed a 1% return, while the Nasdaq Composite, which tracks technology stocks, fell by 4.6%. During this period, the South Korean Kospi index experienced the most significant decline in Asia, plummeting by 36.1%.Japan's Nikkei 225 saw a decrease of 14.87%, Taiwan's TAIEX dropped by 13%, and the MSCI Emerging Markets Index fell nearly 14%. The broader Asia ex-Japan index also declined by about 15%. This strong performance comes as Indian equity markets have made a notable recovery in recent weeks, buoyed by robust corporate earnings and improving risk sentiment. On Monday, the Nifty 500 Index closed at 23,566.60, marking a 7.6% increase from its level of 21,895.90 on October 30.This marks the index's seventh consecutive day of gains. Currently, the index is trading about 2.4% below its 52-week high of 24,144. The recent rally has been significantly driven by financial stocks, which saw a 7.58% increase over the week. Consumer cyclical stocks rose by 5.65%, and healthcare stocks increased by 5.56%. Corporate earnings have also boosted investor confidence. By November 6, 331 companies within the Nifty 500 had reported their results, with median sales growth for 253 non-financial firms at 21.2%.Median EBITDA growth was recorded at 19.8%, and median profit after tax rose by 16.5%, with nearly 73% of companies reporting an increase in profits. Financial sector companies, including banks, non-banking financial companies (NBFCs), and insurance firms, reported a median profit growth of 22.9%. Additionally, easing crude oil prices and hopes for a potential agreement between the U.S. and Iran have improved market sentiment, as investors believe this could alleviate concerns related to energy costs, geopolitical tensions, and supply chain disruptions.