Mumbai: As per a report published by Economic Times, the Indian share market has emerged as the world’s best performing market on a year-on-year (YoY) and year-to-date (YTD) basis. The Indian benchmark indices have outperformed developed markets gauge MSCI World Index by 15% and 29% respectively in the past 12 months and YTD respectively. In the last 12 months, the NSE Nifty is up 45% and 19% on a YTD basis.
As per the report, the Mexbol index of Mexico is the second-best performing index in the world at 45% yearly and 18.97% returns on YTD basis. It is followed by TWSE of Taiwan at 33.61% and 15.70% respectively. The other top performers are CAC of France, Kospi of Korea and Dow of US. The worst performing index is Shcomp index of China with a yearly return of 4.94% and 1.94% on YTD.
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A few months ago, the return correlation between India and global equities has declined to 61% from over 80% and in the last 12 months, the capitalization of the Indian market increased by US dollar 1 trillion. That is the Indian shares are now the most expensive shares in the world at US dollar 3.2 trillion.
The market experts the sustained domestic and foreign institutional inflows have contributed to the performance of Indian benchmark indices. Foreign Portfolio Investors (FPIs) have invested close to Rs 2.2 lakh crore or US dollar 31 billion in the last 12 months while retail participation through the systematic investment route or SIPs is close to Rs 1 lakh crore.
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