India Keeps its Foot on the Pedal

December 2022 certainly did not turn out to be a charming one for investors. Nifty 50 has been underperforming the global equity market and has remained the second worst performing equity index after Japanese Nikkei 225 for the period beginning December 2022. Nonetheless, if we extend the period of our observation and start this comparison from January 1, 2022, we find that Nifty is still outperforming the major equity markets globally. Hence, the current underperformance and fall in our market should be looked on as return of the Indian equity market to its mean.