New Delhi, Oct. 10 -- The Indian stock market benchmark Nifty 50 looks set to wrap Samvat 2081 with muted gains. Weak earnings, US tariffs, foreign capital outflow and geopolitical uncertainties kept the domestic market under pressure during the year.

The Indian stock market underperformed global and emerging markets for the first time since the onset of the COVID-19 pandemic.

Brokerage firm Axis Securities pointed out that the underperformance of the Indian equities was largely due to the US policies and prolonged negotiation between the US and India tariffs versus the market expectations, depreciation of the Indian rupee, FII selling, delayed earnings recovery, and a lag in the reflection of fiscal and monetary benefits to the corpora...