By VK Sharma
Unless something drastic happens in the next three days, the Nifty is on course to complete ten consecutive years of positive returns — its longest winning streak to date. The benchmark index is up 10.14% for the calendar year.
Since December 31, 2015, the Nifty has delivered positive returns every year. At 26,042, it represents a CAGR of 12.6% over this ten-year period — and that includes the Covid years. While this decade’s return is lower than the 15.52% CAGR seen since inception, it still outperforms the Dow Jones Industrial Average’s 10.99% and is far ahead of China’s Shanghai Composite Index, which suffered a lost decade with a meagre 1.13% CAGR. The Nasdaq Composite, buoyed by AI and Big Tech, stood out with a CAGR of 16.54%.
The market seems to have shrugged off multiple concerns — the lack of a trade deal with the US, persistent FII selling and pressure on the rupee. Yet, investors appear confident in India’s growth story.
The next decade clearly belongs to India. It remains the world’s fastest-growing large economy and the most populous nation, with a vast skilled workforce, robust digital infrastructure, and supportive government policy. No surprise, then, that India continues to be the top destination for Global Capability Centres (GCCs) — hubs for cutting-edge research and innovation. The country currently hosts around 1,800–1,900 such centres, projected to grow to about 2,500 by 2030.
As India climbs the geopolitical ladder, some resistance from the US and China is inevitable. Yet, India has demonstrated remarkable technological competence in missile and air defence systems — capabilities unmatched even by the US. The country today is far more prepared than it was during Operation Sindoor. Domestically too, security has strengthened, with Naxalism nearly wiped out.
One notable trend in recent months has been the judiciary’s proactive and positive approach — a development that augurs well for governance and investor confidence. The growing perception that the executive and judiciary are aligned in working for the country’s progress adds further comfort to foreign investors.
Retail investors deserve a standing ovation for their resilience. They have kept the SIP flows strong, helping markets absorb part of the FII selling. By the end of November, SIP inflows had crossed ₹3 lakh crore for CY2025, accounting for 37% of all gross inflows into active equity schemes — up from 27% last year.
For the near term, the markets appear well placed. The pattern of lower lows and lower highs has been broken in the past fortnight. The Nifty has strong support at 25,694 and resistance at 26,325. The advice: remain invested.