The National Stock Exchange (NSE) has proved to be more resilient in the current sell-off in global equities.
The Nifty50 is down just 2.1 per cent in the last 12 months against a decline of 8.1 per cent year-on-year (YoY) in the S&P 500 index.
Nifty50 has done even better on the valuations front than its American counterpart. At its current price, the Indian benchmark is trading at 26 times its underlying earnings per share (EPS) in the previous 12 months, marginally down from its valuation of 27.5x a year ago. In the same period, S&P 500 price-to-earnings multiple has contracted nearly