Nifty 50 and Sensex underperformed in 2023, yielding less than 10% returns. This lags significantly behind markets like the US S&P 500 (over 25%), Taiwan's Taiex (over 25%), and even the Chinese Hang Seng (over 15%). Even the Nikkei 225 and Germany's DAX outperformed India's major indices, highlighting a relatively weak performance.