New Delhi [India], January 2 : The year 2024 proved to be a robust one for global financial markets, with the US leading the way in delivering stellar returns, according to a report by Axis Securities.
The report also noted that while the Indian stock market showed steady growth, it lagged behind most of its global counterparts.
It said "The Indian stock market, led by the Sensex, delivered a solid 8.9 per cent return in 2024 but lagged behind most major global indices".
The report stated that the S&P BSE Sensex Index in India delivered an annual return of 8.9 per cent in 2024, while the Nifty 50 provided an approximately 9 per cent return. Although these figures reflect strong domestic market performance, they were overshadowed by higher returns seen globally.
In the United States, the equity markets soared to remarkable levels. The Dow Jones Industrial Average recorded a 14.1 per cent gain, while the broader S&P 500 Index surged 25.2 per cent in 2024 which is highest globally in major markets.
The report also highlighted that the technology-heavy indices outshined others, with the NASDAQ-100 posting an exceptional 27.6 per cent return. Even smaller companies performed well, as reflected by the Russell 2000 Index, which slightly edged out the Sensex with an 8.9 per cent return.
In Asia, Japan's Nikkei 225 stood out, delivering an impressive 20.4 per cent return, showcasing strong economic recovery and growth. Hong Kong's Hang Seng Index rebounded sharply from its 16 per cent decline in 2023, gaining 17.9 per cent in 2024.
European markets showed moderate performance in comparison. The Euro Stoxx 50 climbed by 6.5 per cent, and the UK FTSE 100 rose by 5.4 per cent.
Sectorally, the Indian markets displayed diverse strengths. Almost all sectoral indices outperformed the Sensex, except Bankex and FMCG. This indicates robust investor sentiment across various segments.
Overall, 2024 was a year marked by remarkable gains in global equity markets, reflecting strong economic recovery and widespread investor participation. The US markets stood out as the clear winners, offering the best returns among major indices worldwide.
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