Indian vs US stock market: How Dalal Street performed against global markets in Q1CY24?
Indian stock market vs US stock market: On account of a strong rally in the small-cap and mid-cap indices during the January to March 2024 quarter, small-cap and micro-cap indices on Dalal Street have outperformed their counterparts in the global market, which includes Wall Street. The Nifty 500 index has risen to the tune of 6.40 percent in YTD time whereas the Nifty Next 50 index skyrocketed to the tune of 17.50 percent in CY24.
The Nifty Small-cap 250 and the Nifty Micro-cap 250 indices have shown growth of over 85 percent and 63 percent for the past year, respectively but these indices witnessed zero returns in March 2024. However, the frontline indices of the Indian stock market failed to outperform major indices of the US stock market in 2024.
The Nifty 50 index has surged 6.40 percent in YTD, the BSE Sensex has shot up to the tune of 2.73 percent in 2024 whereas the Bank Nifty index has added around 0.54 percent. In the broad market, the BSE small-cap index shot up over 7 percent in YTD whereas the mid-cap index registered a 10.24 percent rally in the year 2024.
Also Read: Stocks to buy or sell: Sumeet Bagadia recommends three shares to buy on Monday — April 8 At Wall Street, the key benchmark index S&P 500 registered a 9.73 percent rise in YTD, tech giant Nasdaq index logged over 10 percent rise in 2024 while the Dow Jones index surged 3.15 percent in the current year. So, frontline indices of the US stock market outperformed key benchmark indices of the Indian stock market in 2024.
According to Motilal Oswal Asset Management Company’s Global Market snapshot report, Nifty Next 50 has continued its streak as the top performer with a 2.8% growth. The index has seen consecutive growth during the last 3 Months, 6
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