After 2 straight months of underperformance, the midcap and smallcap indices massively outperformed the benchmark Nifty in the month of April. The Nifty Midcap index jumped 5.8% while the Nifty Smallcap index surged 11.4% in the previous month. In comparison, the benchmark Nifty was up 1.24%.
BSE was the top gainer in the Nifty500 index, soaring 521 percent, followed by IRFC and Suzlon Energy, which skyrocketed 462 percent and 444 percent, respectively.
Shauryam Gupta, CEO - Rupeezy, believes that given that the market has factored in the prevailing political climate, an upmove seems more probable than a market correction ahead of elections.
India surpasses Hong Kong to become the fourth-largest global hub of equities, trailing only the US, China, and Japan. However, the gap between Dalal Street and Wall Street is significant. The US market, with a total market capitalization of $51 trillion, is so massive that just two stocks, Apple and Microsoft, exceed the combined value of all 5,000-plus stocks listed in India. Meanwhile, the world s most valuable companies are Apple and Microsoft, followed by Saudi Aramco. In India, Reliance Industries and HDFC Bank are the largest stocks. HDFC Bank is the top candidate to reach a $1 trillion market capitalization, followed by RIL and Bajaj Finance. The Indian market is expected to continue growing, driven by foreign institutional investors and increasing retail participation.