Indian markets have outperformed other emerging market peers in April-December 2021 on account of good corporate earnings, sharp rise in vaccination and opening up of business establishment across the country, the Economic Survey 2021-22 said on Monday.
"The benchmark stock market indices in India - Sensex and Nifty-50 - increased by 17.7 per cent and 18.1 per cent, respectively, during April-December 2021," the survey said.
Driven by good corporate earnings, sharp rise in COVID-19 vaccination and opening up of business establishment across the country, Sensex and Nifty scaled up to touch their peak in October last year, it added.
Among the select developed markets, S&P 500 index and NASDAQ Composite index recorded strong gains and rose by 20.0 per cent and 18.1 per cent, respectively, the survey said.