India 2nd Best Global Market In H1FY25

Sameer Mulgaonkar/Business Standard

India was the second-best performing major global market during the first half of financial year 2024-25 (H1FY25) after Hong Kong.

Singapore, US and China were among the top five best-performing markets.

If not for a late surge in the Hong Kong market, India would have been the best-performing market during this period.

The Hang Seng rose 17.5 per cent in September, of which 16 per cent of the gain came during the past five sessions of the month.

India, on the other hand, took consistent strides during the first half. Barring a marginal loss in May, the benchmark Nifty 50 index rose during each of the months.

The gains in the domestic markets were supported by strong investor flows, the status quo in the government after the general elections in May and high economic growth outlook.

During the H1FY25, domestic mutual funds pumped in Rs 1.8 trillion, while foreign portfolio investors (FPIs) bought shares worth Rs 92,400 crore (Rs 924 billion).

All sectoral indices compiled by NSE rose during the first half. Consumer durables, auto and metal stocks were among the best-performers.