Nifty 500 vs S&P 500: India catches its breadth, even as US outruns it

The US market has been a standout performer this year, with the benchmark Standard and Poor’s 500 (or simply the S&P 500) gaining over 16 per cent during the first half of calendar year 2023 (CY23) in what was its best first-half show since 2019. By comparison, India’s National Stock Exchange Nifty 500 has gained 6.4 per cent. 

On the surface, it appears that the US markets have done exceedingly well. However, a deeper analysis reveals the gains in the domestic market to be more well-spread. 

More than 65 per cent of the stocks on the Nifty 500 have gained