Up over 6%, Nifty Smallcap 250 and Nifty Midcap 150 outperforms all major indices in June; check details
Nifty Midcap 150 outperformed all major indices clocking gains of 6.36 per cent and 6.16 per cent, respectively in June. According to a report by domestic brokerage firm Motilal Oswal titled ‘Global Market Snapshot’, Nifty Smallcap 250 and Nifty 150 have risen 19.99 per cent and 18.05 per cent respectively in the first quarter of current fiscal 2023-24. In addition, both indices have outperformed the other indices when compared on a three-month, six-month, and on an annual basis.
In the last three months, Nifty Midcap rose 18.05 per cent and Nifty Smallcap 250 was up 19.99 per cent. In the last six months, both indices have clocked gains of 12.75 per cent and 11.25 per cent, respectively. Finally, even on a 12-month basis, both indices rose 33.44 per cent and 30.36 per cent, respectively - clocking the highest gains when compared to other major indices including Nifty 50 and Nifty 500, according to Motilal Oswal.
Meanwhile, the Nifty 50 has now reached a new milestone, surging past the 19,000-level to set a fresh all-time high surpassing its previous peak in December 2022. The realty sector continued its aggressive upward movement and rose nine per cent conversely, the IT sector remained relatively flat, while the healthcare sector rose nine per cent in June. Indications are in favor of further consolidation in the index so participants have no option but to focus on stock-specific opportunities, according to analysts.
‘’The recent surge in the US markets is encouraging but we need sustainability of the move. Meanwhile, Nifty has been hovering within the 19,300-19,550 zone and either side break would offer cues over the next directional move,'' said Ajit Mishra, SVP - Technical Research, Religare Broking. Also Read: Sens
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