Up over 7%, Nifty Smallcap 250 outperforms major indices in July; check details

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Nifty Smallcap 250 outperformed all major indices clocking gains of 7.69 per cent in July, followed by Nifty Miscap 150 which scored gains of 5.51 per cent during the period. According to a report by domestic brokerage firm Motilal Oswal titled ‘Global Market Snapshot’, the broader indices outperformed major ones including Nify50 and Nifty 500 during July, which gained 2.94 per cent and 3.83 per cent respectively. 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 150 rose 18.039 per cent and Nifty Smallcap 250 was up 20.89 per cent. In the last six months, both indices have clocked gains of 21.93 per cent and 22.60 per cent, respectively. Finally, even on a 12-month basis, both indices rose 26.31 per cent and 29.17 per cent, respectively - clocking the highest gains when compared to other major indices including Nifty 50 and Nifty 500, according to Motilal Oswal.

Foriegn institutional investors (FIIs) have pulled off a 700-point rally in the Nifty since the 3rd of this month at the start of the earnings season for the first quarter, according to analysts. ‘’Nifty has rallied around 5 per cent in the last one month mainly on FII buying and sustaining strong inflows into domestic mutual funds. Institutional support is likely to continue,'' said Dr.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Realty, metals and energy led the charge, rising around nine per cent each. On the flip side, IT lagged with a modest one per cent rise in July.