New Delhi, Nov. 8 -- The Samvat year gone by has been one of the toughest for Indian equity investors in over a decade. The BSE Sensex slumped 8% and the Nifty 50 shed 7% in Samvat 2082, putting them on course for their worst Samvat-year performance since Samvat 2067, when both headline indices declined over 17%.

The underperformance of Indian equities in Samvat 2082 is a reflection of the difference between economic growth and stock market performance, said Ankur Punj, managing director of Equirus Wealth.

"A strong economy does not necessarily translate into strong equity returns, particularly when valuations are elevated and earnings growth does not meet market expectations," Punj said.

Weakness in the Indian market was due to global...