New Delhi, Jan. 5 -- India's equity market recorded its worst relative performance in an Asian context since 1995 in 2025, weighing heavily on regional portfolios with high India exposure, according to the latest GREED & fear report by global brokerage Jefferies.

The Jefferies Asia ex-Japan long-only portfolio, which historically maintained a significant overweight position in India, underperformed its benchmark last year primarily due to weak Indian equity returns. Indian stocks in the portfolio declined by an average 2.4 per cent in US dollar terms in 2025, even as Chinese stocks in the same portfolio rose by an average 23 per cent.

"The portfolio's Indian stocks declined by an average of 2.4% in US dollar terms last year, while the p...