Abstract We performed a comparative study of Nernst effect and resistivity in underdoped cuprates. A finite Nernst signal coexists with a field-induced non-metallic resistivity and persists up to temperatures well above Tc. On the other hand, a similar study detects a finite Nernst signal in the normal-state of the conventional superconductor NbSe2. However, the superconducting fluctuations remain the most plausible source of the anomalous Nernst signal in the underdoped cuprates.