Indian benchmarks have been scaling new peaks every other day. But a look at global peers shows that since Jan. 1, 2024, two global indices—the Japanese Nikkei and the S&P 500—are giving better returns.
Japan's Nikkei 225 leads the pack of major global indices even as stock markets around the world are presenting a mixed picture year-to-date.
Regional indices reflect a variety of investor sentiments and economic factors. Leading the pack is Japan's Nikkei index, which is currently up by a robust 18.4%. This strong performance highlights several factors, including a weaker yen and optimism surrounding a potential economic recovery.
The U.S. market has also seen significant gains, with the S&P 500 climbing 9.2% year-to-date. Continued corporate earnings growth and a relatively stable interest rate environment appear to be driving this positive trend.
Closer to home, India's Nifty 50 has managed a respectable 4.2% YTD. The Indian market seems to be balancing optimism about domestic growth with concerns about global inflation. However, this growth might be seen as tepid when compared to previous election year run-ups.
However, not all regions are sharing the same positive sentiment. Hong Kong's Hang Seng is currently down 0.15% YTD, potentially reflecting ongoing concerns about China's regulatory crackdown on the tech sector and the ongoing property market slowdown.
European markets are demonstrating a more moderate performance. The FTSE 100 in the UK is up 2.6% YTD, while China's CSI 300 is showing a similar gain of 2.6%.
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