India's Sensex top-performing index in the Asia-Pacific region in Dec; ranks 15th out of 45 global indices for CY23

In December 2023, the 30-scrip Dalal Street benchmark Sensex, claimed the leading position among its peers in the Asia-Pacific region, highlighted Geojit Financial Services. This signifies the resilience, investor confidence, and strength of the Indian equity market compared to other major indices in the region.

A report titled "World Equity Indices Screener – Around the World in 5 Minutes" for the year 2023 by the brokerage revealed that key indices in 11 out of 45 countries concluded the year near multi-year highs or at all-time highs. The Sensex, with a remarkable one-year return of 18.7 percent, experienced its best performance since 2021 and ranked as the 15th top-performing index among the 45 gauges assessed, it said.

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2023 Data

Overall, the brokerage report observed that global capital markets demonstrated robust performance, achieving an average return of 20.1 percent, marking the highest annual return in over seven years. This occurred against a backdrop of persistent challenges, including escalating geopolitical tensions and uncertainty surrounding key policy decisions by the world's leading developed economy.

It further informed that 37 nations’ indices (82 percent of the universe) gained by an average of 25.8 percent and 18 percent nations’ indices were down by an average of -6.4 percent.

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TOP-5 (by 1 yr % change): Argentina’s Merval went up by 360.1 percent, alongside higher inflation and economic troubles; Nigeria’s NSE all share was up 45.9 percent; Poland’s WIG was up 36.5 percent; Turkey’s BIST-100 was up 35.6 percent; and Japan’s Nikkei225 was up 28.2 percent.

India’s Sensex was up by 18.7 percent, ranking 15th out of the total 45 nations, noted Geojit.

BOTTOM-5 (by 1 yr % change): Thailand’s SET was down the most by -15.15 percent; Hong Kong’s Hangseng was down -13.8 percent; Colombia’s Colcap was down -7.1 percent; Finland’s Helsinki was down -6.4 percent; and China’s Shanghai Comp. was down -3.7 percent.

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Other Highlights

Among other highlights, the brokerage report found that Indian indices featured at the sixth spot in the ranking with a three-year CAGR of 14.8 percent, and the fifth position with a five-year CAGR of 13.2 percent.

Overall, the world average CAGR was up by 10.3 percent, over the past 3 years, compared to the base periods, when the world broadly was in the follow-up phases of unlocking, post China’s Wuhan originated worst pandemic, Covid-19, alongside vaccination drives and opening up of economies in 2020, said the report.

Best 5 Nations (3-year CAGR): Argentina (163 percent); Turkey (71.7 percent); Nigeria (22.9 percent); UAE (17.7 percent); Denmark (15.9 percent).

Bottom 5 Nations (3-year CAGR): Hong Kong (-14.5 percent); Russia (-7.9 percent); Colombia (-6.0 percent); China (-5.0 percent); Malaysia (-3.7 percent).

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December Figures

The Sensex index finished the last month of 2023 with 7.84 percent returns, its 6th best gain in more than 5 years, it noted.

39 out of the 45 indices tracked registered an average return of 4.4 percent in December, added Geojit.

TOP-5 (by 1-month % change): Argentina’s Merval went up the most by 14.3 percent, the country with terrific economic issues; Sweden’s OMX Stockholm was up 8.2 percent, its 5th best monthly gains in 5+ years; Qatar’s QE General gained 7.86 percent, it’s 3rd best gain in 60+ months; India’s Sensex came in close gaining 7.84%, it’s 6th best in 5+ yrs; Australia’s ASX All Ordinaries went up 7.3%, it’s 3rd best in 5+ yrs.

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BOTTOM-5 (by 1-month % change): On the other hand, Turkey’s BIST-100 declined the most by -6 percent; Russia’s RTSI was down -2.8 percent; China’s Shanghai Comp. was down -1.8 percent; Portugal’s PSI 20 was down -1.2 percent; and Norway’s Oslo All Share was down 0.3 percent, it reported.