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Nasdaq Is Getting Trounced by An Indian Tech Gauge This Year

India’s technology stock gauge is poised to outperform its U.S. peer by the most in 12 years.

Nasdaq Is Getting Trounced by An Indian Tech Gauge This Year
The Bombay Stock Exchange (BSE) logo is displayed in front of a bronze bull statue. (Photographer: Dhiraj Singh/Bloomberg)

India’s technology stock gauge is poised to outperform its U.S. peer by the most in 12 years as demand for automation and easy money at home boosts shares.

The S&P BSE Information Technology Index has gained more than 48% this year, trouncing the Nasdaq 100’s performance by about 31 percentage points and heading for the biggest annual beat since 2009. 

Nasdaq Is Getting Trounced by An Indian Tech Gauge This Year

The Indian measure -- where Asia’s biggest software exporter Tata Consultancy Services Ltd. and outsourcing giant Infosys Ltd. make up more than half of the weighting -- has benefited from global demand for automation and digital services. The Reserve Bank of India’s benign monetary policy stance and a selloff in China’s tech shares are also aiding flows into the nation’s $3.5 trillion stock market.

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