Nifty’s decoupling from the S&P 500 is striking. While S&P 500 is down 8.4% YTD, Nifty is up 2.27% YTD. The resilience of the Indian economy, the expected slowdown in the US economy, the weakness in the dollar and the steady FII buying in India of Rs 21263 crores in the last 6 days are contributing to the outperformance of India