GLOBAL MARKETS UPDATE – AS ON APRIL 30, 2021

Highlights:

- Except Taiwan, US indices outperformed indices of other markets during the month.

- Most indices remained flat month-on-month.

- INR’s depreciation vis-à-vis almost all major global currencies led to incremental returns in INR terms from foreign markets.

iFAST Proprietary

Global Equities - Month-wise Trend (Returns In Local Currency Terms) Region Country Index Apr-21 Mar-21 Feb-21 Jan-21 Dec-20 Nov-20 Oct-20 Sep-20 Aug-20 Jul-20 Jun-20 May-20 Apr-20

North America USA S&P 500 5.2% 4.2% 2.6% -1.1% 3.7% 10.8% -2.8% -3.9% 7.0% 5.5% 1.8% 4.5% 12.7% NASDAQ 100 5.9% 1.4% -0.1% 0.3% 5.1% 11.0% -3.2% -5.7% 11.0% 7.4% 6.3% 6.2% 15.2% Dow Jones 2.7% 6.6% 3.2% -2.0% 3.3% 11.8% -4.6% -2.3% 7.6% 2.4% 1.7% 4.3% 11.1% Canada S&P Toronto 2.2% 3.6% 4.3% -0.7% 1.6% 10.1% -3.4% -2.6% 2.2% 4.3% 2.2% 2.9% 10.6%

Europe Pan-Europe Stoxx 600 1.8% 6.1% 2.3% -0.8% 2.5% 13.7% -5.2% -1.5% 2.9% -1.1% 2.8% 3.0% 6.2% Germany DAX 0.8% 8.9% 2.6% -2.1% 3.2% 15.0% -9.4% -1.4% 5.1% 0.0% 6.2% 6.7% 9.3% France CAC 3.3% 6.4% 5.6% -2.7% 0.6% 20.1% -4.4% -2.9% 3.4% -3.1% 5.1% 2.7% 4.0% UK FTSE 100 3.8% 3.6% 1.2% -0.8% 3.1% 12.4% -4.9% -1.6% 1.1% -4.4% 1.5% 3.0% 4.0% Italy FTSE MIB -2.1% 7.9% 5.9% -3.0% 0.8% 22.9% -5.6% -3.1% 2.8% -1.5% 6.5% 2.9% 3.8% Switzerland Swiss Market Index -0.2% 5.0% -0.6% -1.1% 2.2% 9.3% -5.9% 0.5% 1.3% -0.4% 2.2% 2.1% 3.4% Spain IBEX 35 2.7% 4.3% 6.0% -3.9% 0.0% 25.2% -3.9% -3.6% 1.3% -4.9% 1.9% 2.5% 2.0%

Greater China China Shanghai Composite (China A) 0.1% -1.9% 0.7% 0.3% 2.4% 5.2% 0.2% -5.2% 2.6% 10.9% 4.6% -0.3% 4.0% China Shenzhen CSI 300 (China A) 1.5% -5.4% -0.3% 2.7% 5.1% 5.6% 2.4% -4.8% 2.6% 12.8% 7.7% -1.2% 6.1% China MSCI China 1.2% -6.1% -1.0% 7.4% 2.8% 2.7% 5.3% -2.9% 5.6% 8.9% 8.4% -0.8% 6.3% China + Hong Kong Hang Seng China (China H) -0.4% -2.7% -0.2% 5.3% 2.8% 5.7% 5.0% -5.0% -0.4% 3.8% 3.7% -4.2% 5.8%

Hong Kong Hang Seng 1.2% -2.1% 2.5% 3.9% 3.4% 9.3% 2.8% -6.8% 2.4% 0.7% 6.4% -6.8% 4.4% Taiwan Taiwan Weighted Capitalization Index 6.9% 3.0% 5.4% 2.8% 7.4% 9.4% 0.2% -0.6% -0.6% 9.0% 6.2% -0.5% 13.2%

Asia Pacific - Developed Japan -1.3% 0.7% 4.7% 0.8% 3.8% 15.0% -0.9% 0.2% 6.6% -2.6% 1.9% 8.3% 6.7% South Korea KOSPI 2.8% 1.6% 1.2% 3.6% 10.9% 14.3% -2.6% 0.1% 3.4% 6.7% 3.9% 4.2% 11.0% Singapore FTSE 1.7% 7.3% 1.6% 2.1% 1.3% 15.8% -1.7% -2.6% 0.1% -2.3% 3.2% -4.3% 5.8% Australia S&P Australia 200 3.5% 1.8% 1.0% 0.3% 1.1% 10.0% 1.9% -4.0% 2.2% 0.5% 2.5% 4.2% 8.8%

Emerging Markets Brazil Ibovespa Sao Paulo Index 1.9% 6.0% -4.4% -3.3% 9.3% 15.9% -0.7% -4.8% -3.4% 8.3% 8.8% 8.6% 10.3% Mexico S&P Borsa Mexicana De Valores Index 1.6% 6.0% 3.7% -2.5% 5.5% 13.0% -1.3% 1.7% -0.5% -1.8% 4.4% -1.0% 5.5% South Africa South Africa Top 40 0.4% 0.2% 6.0% 5.4% 3.8% 10.3% -5.1% -2.3% -0.3% 2.4% 7.8% 0.4% 13.8% Russia RTS Index 0.5% 4.6% 3.2% -1.4% 8.2% 20.2% -9.5% -6.4% 2.0% 1.8% -0.6% 8.4% 10.9% Turkey 100 Index 0.4% -5.4% -0.1% -0.2% 15.0% 15.4% -2.9% 6.2% -4.3% -3.3% 10.4% 4.4% 12.8% Thailand SET Index -0.3% 6.0% 2.0% 1.2% 2.9% 17.9% -3.4% -5.6% -1.3% -0.8% -0.3% 3.2% 15.6% Malaysia FTSE KLCI index 1.8% -0.3% 0.7% -3.7% 4.1% 6.5% -2.5% -1.3% -4.9% 6.8% 1.9% 4.7% 4.2% Indonesia Jakarta Stock Exchange Composite Index 0.2% -4.1% 6.5% -2.0% 6.5% 9.4% 5.3% -7.0% 1.7% 5.0% 3.2% 0.8% 3.9% Vietnam Vietnam Ho Chi Minh Stock Index 4.0% 2.0% 10.6% -4.3% 10.0% 8.4% 2.2% 2.7% 10.4% -3.2% -4.6% 12.4% 16.1% India Sensex -1.5% 0.8% 6.1% -3.1% 8.2% 11.4% 4.1% -1.5% 2.7% 7.7% 7.7% -3.8% 14.4% India Nifty -0.4% 1.1% 6.6% -2.5% 7.8% 11.4% 3.5% -1.2% 2.8% 7.5% 7.5% -2.8% 14.7%

Miscellaneous MSCI Indices MSCI World 4.5% 3.1% 2.5% -1.1% 4.1% 12.7% -3.1% -3.6% 6.5% 4.7% 2.5% 4.6% 10.8% MSCI ACWI 4.2% 2.5% 2.2% -0.5% 4.5% 12.2% -2.5% -3.4% 6.0% 5.1% 3.0% 4.1% 10.6% MSCI Asia ex Japan 2.4% -2.7% 1.2% 4.0% 6.6% 8.0% 2.8% -1.7% 3.4% 8.0% 7.9% -1.4% 8.9% MSCI Frontier Emerging Markets 1.8% -3.7% 1.9% -4.6% 7.0% 7.2% 2.1% -1.2% 5.3% -0.3% 3.2% 3.7% 7.0% MSCI Emerging Markets 2.4% -1.7% 0.7% 3.0% 7.2% 9.2% 2.0% -1.8% 2.1% 8.4% 7.0% 0.6% 9.0%

Source: Bloomberg, iFAST Research

iFAST Proprietary

Global Equities - Period-wise Returns (Local Currency Terms) Region Country Index 1 Month 3 Months 6 Months CY YTD 1 Year 3 Years 5 Years 10 Years (Absolute) (Absolute) (Absolute) (Absolute) (Absolute) (CAGR) (CAGR) (CAGR)

North America USA S&P 500 5.2% 12.6% 27.9% 11.3% 43.6% 16.4% 15.1% 11.9% NASDAQ 100 5.9% 7.2% 25.4% 7.5% 54.0% 28.0% 26.1% 19.1% Dow Jones 2.7% 13.0% 27.8% 10.7% 39.1% 11.9% 13.8% 10.2% Canada S&P Toronto Stock Market Index 2.2% 10.4% 22.7% 9.6% 29.4% 7.0% 6.6% 3.2%

Europe Pan-Europe Stoxx 600 1.8% 10.5% 27.8% 9.6% 28.6% 4.3% 5.1% 4.4% Germany DAX 0.8% 12.7% 31.0% 10.3% 39.4% 6.3% 8.6% 7.3% France CAC 3.3% 16.1% 36.5% 12.9% 37.1% 4.3% 7.2% 4.3% UK FTSE 100 3.8% 8.8% 25.0% 7.9% 18.1% -2.5% 2.2% 1.4% Italy FTSE MIB -2.1% 11.9% 34.5% 8.6% 36.5% 0.2% 5.4% 0.7% Switzerland Swiss Market Index -0.2% 4.1% 15.0% 3.0% 14.5% 7.4% 6.7% 5.4% Spain IBEX 35 2.7% 13.6% 36.6% 9.2% 27.3% -4.1% -0.5% -2.1%

Greater China China Shanghai Composite (China A) 0.1% -1.0% 6.9% -0.8% 20.5% 3.8% 3.2% 1.7% China Shenzhen CSI 300 (China A) 1.5% -4.3% 9.1% -1.7% 30.9% 10.9% 10.2% 4.8% China MSCI China 1.2% -5.9% 6.7% 1.0% 34.9% 6.3% 14.2% 4.7% China + Hong Kong Hang Seng China (China H) -0.4% -3.2% 10.8% 2.0% 13.6% -1.7% 7.5% 1.7%

Hong Kong Hang Seng 1.2% 1.6% 19.2% 5.5% 16.6% -2.3% 6.4% 1.9% Taiwan Taiwan Weighted Capitalization Index 6.9% 16.0% 40.0% 19.2% 59.8% 18.1% 16.0% 6.9%

Asia Pacific - Developed Japan Nikkei 225 -1.3% 4.2% 25.4% 5.0% 42.7% 8.6% 11.6% 11.3% South Korea KOSPI 2.8% 5.8% 38.8% 9.5% 61.6% 7.8% 9.6% 3.7% Singapore FTSE Straits Times Index 1.7% 10.9% 32.8% 13.2% 22.6% -3.8% 2.5% 0.1% Australia S&P Australia Stock Exchange 200 3.5% 6.3% 18.5% 6.7% 27.2% 5.5% 6.0% 3.8%

Emerging Markets Brazil Ibovespa Sao Paulo Index 1.9% 3.3% 26.5% -0.1% 47.7% 11.4% 17.1% 6.0% Mexico S&P Borsa Mexicana De Valores Index 1.6% 11.7% 29.8% 8.9% 31.6% -0.2% 1.0% 2.6% South Africa South Africa Top 40 0.4% 6.6% 28.7% 12.4% 31.8% 5.9% 5.6% 7.5% Russia RTS Index 0.5% 8.6% 39.2% 7.0% 32.0% 8.8% 9.3% -3.1% Turkey Borsa Istanbul 100 Index 0.4% -5.1% 25.7% -5.3% 38.2% 10.3% 10.4% 7.3% Thailand SET Index -0.3% 7.9% 32.5% 9.2% 21.6% -3.8% 2.4% 3.8% Malaysia FTSE Bursa Malaysia KLCI index 1.8% 2.3% 9.2% -1.6% 13.8% -5.0% -0.9% 0.4% Indonesia Jakarta Stock Exchange Composite Index 0.2% 2.3% 16.9% 0.3% 27.1% 0.0% 4.4% 4.6% Vietnam Vietnam Ho Chi Minh Stock Index 4.0% 17.3% 33.9% 12.3% 61.1% 5.7% 15.7% 9.9% India Sensex -1.5% 5.4% 23.1% 2.2% 44.7% 11.5% 13.8% 9.8% India Nifty -0.4% 7.3% 25.7% 4.6% 48.4% 10.9% 13.3% 9.8%

Miscellaneous MSCI Indices MSCI World 4.5% 10.4% 28.2% 9.2% 43.2% 12.1% 12.0% 7.8% MSCI ACWI 4.2% 9.2% 27.4% 8.6% 43.5% 11.3% 11.7% 7.0% MSCI Asia ex Japan 2.4% 0.9% 20.8% 4.9% 45.0% 7.1% 12.0% 4.1% MSCI Frontier Emerging Markets 1.8% -0.1% 9.2% -4.7% 23.9% -6.0% -0.4% -1.4% MSCI Emerging Markets 2.4% 1.4% 22.1% 4.4% 45.7% 5.0% 9.9% 1.1%

Source: Bloomberg, iFAST Research iFAST Proprietary

Global Equities - Period-wise Returns (INR Terms) Region Country Index 1 Month 3 Months 6 Months CY YTD 1 Year 3 Years 5 Years 10 Years (Absolute) (Absolute) (Absolute) (Absolute) (Absolute) (CAGR) (CAGR) (CAGR)

North America USA S&P 500 7.2% 14.3% 26.9% 12.8% 41.2% 20.3% 17.7% 17.8% NASDAQ 100 8.8% 8.9% 24.4% 8.9% 51.5% 32.2% 28.9% 25.4% Dow Jones 4.4% 14.7% 26.8% 12.1% 36.9% 15.7% 16.3% 16.0% Canada S&P Toronto Stock Market Index 6.5% 16.8% 32.1% 15.4% 44.4% 12.3% 9.4% 5.9%

Europe Pan-Europe Stoxx 600 6.5% 11.2% 30.9% 9.2% 39.2% 7.8% 8.4% 7.7% Germany DAX 6.7% 13.4% 34.2% 9.2% 50.8% 9.9% 12.0% 10.6% France CAC 8.8% 16.9% 39.8% 12.5% 48.3% 8.0% 10.6% 7.6% UK FTSE 100 5.7% 11.4% 32.5% 10.7% 27.7% 1.2% 3.3% 4.7% Italy FTSE MIB 2.9% 12.6% 37.8% 7.5% 47.6% 3.6% 8.7% 3.9% Switzerland Swiss Market Index 4.0% 3.1% 14.6% 0.7% 19.2% 14.4% 10.1% 10.3% Spain IBEX 35 7.8% 14.4% 40.0% 8.8% 37.8% -0.7% 2.7% 1.0%

Greater China China Shanghai Composite (China A) 3.8% -0.3% 9.6% 1.3% 29.3% 6.7% 5.5% 7.1% China Shenzhen CSI 300 (China A) 4.7% -3.5% 11.9% 0.4% 40.5% 14.0% 12.6% 10.4% China MSCI China 3.6% -4.6% 5.7% 2.2% 32.4% 11.0% 16.6% 10.2% China + Hong Kong Hang Seng China (China H) 1.9% -1.9% 9.7% 3.1% 11.3% 2.8% 9.9% 7.1%

Hong Kong Hang Seng 3.3% 2.9% 18.0% 6.7% 14.2% 2.1% 8.7% 7.3% Taiwan Taiwan Weighted Capitalization Index 12.9% 18.7% 42.8% 22.0% 68.1% 25.2% 22.1% 12.9%

Asia Pacific - Developed Japan Nikkei 225 1.0% 1.3% 19.1% 0.3% 37.3% 12.4% 13.8% 13.8% South Korea KOSPI 6.9% 7.4% 40.5% 8.1% 72.4% 10.3% 12.5% 8.7% Singapore FTSE Straits Times Index 5.1% 12.5% 35.3% 13.9% 27.9% -0.2% 5.0% 4.5% Australia S&P Australia Stock Exchange 200 6.1% 8.9% 29.2% 8.3% 47.9% 10.1% 8.6% 5.6%

Emerging Markets Brazil Ibovespa Sao Paulo Index 11.7% 6.0% 33.2% -3.6% 46.2% -0.8% 9.4% -1.3% Mexico S&P Borsa Mexicana De Valores Index 5.2% 14.5% 35.7% 9.1% 54.0% 0.8% -0.1% 2.2% South Africa South Africa Top 40 5.4% 13.6% 43.5% 15.3% 65.4% 4.6% 7.6% 4.6% Russia RTS Index 4.4% 10.2% 38.1% 8.2% 29.9% 12.2% 11.7% 2.1% Turkey Borsa Istanbul 100 Index 0.7% -14.8% 26.2% -13.9% 14.9% -10.9% -9.2% -4.7% Thailand SET Index 2.3% 5.1% 31.4% 6.2% 24.6% 0.0% 7.1% 8.8% Malaysia FTSE Bursa Malaysia KLCI index 3.4% 2.6% 10.0% -2.0% 17.6% -2.9% 0.4% 2.4% Indonesia Jakarta Stock Exchange Composite Index -1.6% 1.0% 19.3% -1.3% 30.6% 2.6% 4.8% 4.5% Vietnam Vietnam Ho Chi Minh Stock Index 8.9% 19.2% 33.7% 14.1% 61.1% 9.0% 17.4% 14.4% India Sensex -0.5% 5.4% 23.1% 2.2% 44.7% 11.7% 13.8% 9.8% India Nifty 0.9% 7.3% 25.7% 4.6% 48.4% 11.0% 13.3% 9.8%

Miscellaneous MSCI Indices MSCI World 6.4% 12.1% 27.2% 10.7% 40.8% 15.9% 14.4% 13.5% MSCI ACWI 6.2% 10.8% 26.4% 10.0% 41.1% 15.1% 14.2% 12.7% MSCI Asia ex Japan 4.6% 2.5% 19.8% 6.3% 42.6% 11.3% 14.4% 9.6% MSCI Frontier Emerging Markets 2.9% 1.4% 8.4% -3.5% 21.9% -2.6% 1.8% 3.8% MSCI Emerging Markets 5.0% 2.9% 21.2% 5.7% 43.3% 9.0% 12.3% 6.5%

Source: Bloomberg, iFAST Research iFAST Proprietary

Global Equities - Differential Return Contributed By INR Depreciation (In Green) Or INR Appreciation (In Red) Region Country Index 1 Month 3 Months 6 Months CY YTD 1 Year 3 Years 5 Years 10 Years (Absolute) (Absolute) (Absolute) (Absolute) (Absolute) (CAGR) (CAGR) (CAGR)

North America USA S&P 500 2.0% 1.7% -1.0% 1.4% -2.3% 3.8% 2.5% 5.9% NASDAQ 100 2.9% 1.6% -1.0% 1.4% -2.5% 4.2% 2.8% 6.3% Dow Jones 1.7% 1.7% -1.0% 1.4% -2.3% 3.7% 2.5% 5.8% Canada S&P Toronto Stock Market Index 4.3% 6.4% 9.4% 5.8% 14.9% 5.3% 2.8% 2.7%

Europe Pan-Europe Stoxx 600 4.7% 0.7% 3.1% -0.4% 10.5% 3.5% 3.4% 3.2% Germany DAX 5.8% 0.7% 3.2% -1.1% 11.4% 3.6% 3.5% 3.3% France CAC 5.5% 0.8% 3.3% -0.4% 11.2% 3.7% 3.4% 3.2% UK FTSE 100 1.8% 2.7% 7.5% 2.8% 9.6% 3.6% 1.1% 3.4% Italy FTSE MIB 4.9% 0.7% 3.3% -1.1% 11.2% 3.4% 3.4% 3.1% Switzerland Swiss Market Index 4.2% -1.0% -0.4% -2.2% 4.7% 7.0% 3.4% 5.0% Spain IBEX 35 5.1% 0.7% 3.4% -0.4% 10.4% 3.4% 3.2% 3.0%

Greater China China Shanghai Composite (China A) 3.7% 0.8% 2.7% 2.1% 8.8% 2.9% 2.3% 5.4% China Shenzhen CSI 300 (China A) 3.2% 0.8% 2.8% 2.1% 9.6% 3.1% 2.4% 5.6% China MSCI China 2.4% 1.3% -1.0% 1.1% -2.4% 4.6% 2.5% 5.5% China + Hong Kong Hang Seng China (China H) 2.2% 1.3% -1.1% 1.1% -2.3% 4.4% 2.3% 5.4%

Hong Kong Hang Seng 2.1% 1.4% -1.1% 1.2% -2.3% 4.4% 2.3% 5.4% Taiwan Taiwan Weighted Capitalization Index 6.0% 2.7% 2.7% 2.8% 8.3% 7.1% 6.1% 6.0%

Asia Pacific - Developed Japan Nikkei 225 2.2% -2.9% -6.3% -4.7% -5.4% 3.8% 2.3% 2.4% South Korea KOSPI 4.1% 1.6% 1.6% -1.5% 10.8% 2.5% 3.0% 5.0% Singapore FTSE Straits Times Index 3.4% 1.6% 2.6% 0.7% 5.2% 3.6% 2.5% 4.4% Australia S&P Australia Stock Exchange 200 2.7% 2.6% 10.7% 1.6% 20.7% 4.6% 2.6% 1.7%

Emerging Markets Brazil Ibovespa Sao Paulo Index 9.8% 2.6% 6.7% -3.5% -1.5% -12.1% -7.8% -7.4% Mexico S&P Borsa Mexicana De Valores Index 3.6% 2.8% 5.9% 0.1% 22.4% 1.0% -1.1% -0.5% South Africa South Africa Top 40 5.0% 7.0% 14.8% 2.9% 33.6% -1.3% 2.0% -2.9% Russia RTS Index 3.8% 1.7% -1.1% 1.2% -2.1% 3.4% 2.4% 5.1% Turkey Borsa Istanbul 100 Index 0.3% -9.7% 0.6% -8.5% -23.3% -21.2% -19.6% -11.9% Thailand SET Index 2.6% -2.8% -1.1% -3.1% 3.0% 3.8% 4.6% 5.0% Malaysia FTSE Bursa Malaysia KLCI index 1.6% 0.3% 0.8% -0.4% 3.9% 2.1% 1.3% 2.0% Indonesia Jakarta Stock Exchange Composite Index -1.7% -1.3% 2.4% -1.6% 3.5% 2.6% 0.4% -0.1% Vietnam Vietnam Ho Chi Minh Stock Index 4.9% 1.9% -0.2% 1.8% -0.1% 3.3% 1.8% 4.5%

Miscellaneous MSCI Indices MSCI World 1.9% 1.7% -1.0% 1.4% -2.3% 3.8% 2.4% 5.7% MSCI ACWI 2.0% 1.7% -1.0% 1.4% -2.3% 3.8% 2.4% 5.7% MSCI Asia ex Japan 2.2% 1.5% -1.0% 1.4% -2.4% 4.3% 2.4% 5.5% MSCI Frontier Emerging Markets 1.0% 1.5% -0.9% 1.2% -2.0% 3.4% 2.2% 5.2% MSCI Emerging Markets 2.7% 1.5% -1.0% 1.3% -2.4% 4.0% 2.4% 5.3%

Source: Bloomberg, iFAST Research iFAST Proprietary

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