Market Lens

Among 1,262 stocks from the BSE Smallcap index, over half, or 734 stocks, outperformed in April by recording more than 20 per cent return, data shows.

While that may be the case for some, investing outside of the large-cap universe, or rather companies that haven't hit maturity, is more guided by intuition or feeling rather than by calculations

More importantly, the inflation has been kept under control as of now with the government absorbing a large part of the crude oil cost increase.

Brokerages have cut Nifty targets by around 4% per cent since February 28 as Iran war keeps oil prices high, raising inflation, GDP, and earnings concerns for Indian stock markets

Liquidity dynamics have also played a role. In volatile markets, investors often sell gold and silver to raise cash or meet margin calls, creating temporary downward pressure on precious metals.

From their February 27, 2026, level, the Nifty Smallcap 100 index rallied 6.5 per cent, while the Nifty Midcap 100 index gained 2.2 per cent. In comparison, the Nifty 50 and BSE Sensex are still down.

JP Morgan has revised down its FY27 earnings estimates by 2-10 per cent on a weighted-average basis over the last few weeks across sectors such as Consumer, Auto, Financials and OMCs

Preferential equity listings hit a 25-year high in FY26 as companies tapped faster, targeted fundraising routes amid market volatility and capital needs

Small-caps, according to Jaipuria, are a classic "buy pessimism, sell euphoria" trade, he said.

On its part, the government has denied reports of hiking petrol and diesel prices despite the surge in crude oil in the backdrop of the conflict in West Asia.

Flexicap funds are split on allocation strategies, with some increasing large-cap exposure while others favour mid- and small-cap stocks based on evolving opportunities

MF investors see zero returns but SIP inflows remain strong. Analysts say patience may be tested, even as bull market hopes build

Retail trading activity cools as volatility and weak returns shrink NSE's active client base, with discount brokers seeing the sharpest decline

India Inc Q4FY26 earnings seen modest amid West Asia conflict. IT, autos lead growth while pharma, utilities lag. Key triggers and FY27 outlook decoded

Domestic mutual funds invested heavily in banking stocks in March, offsetting record foreign outflows as market sentiment weakened amid global geopolitical tensions

Margin trading facility books declined for second straight month in March as heightened volatility and global uncertainties led investors to cut leveraged exposure despite steady cash market activity

Flexicap funds top FY26 inflows as investors shift from mid- and smallcaps to diversified and multi-asset strategies amid market volatility

Here's how leading brokerages have interpreted the recent developments in West Asia and their likely impact on stock markets and crude oil prices.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.9 per cent to put it up 7.3 per cent for the week, the most since November 2022

Karachi Stock Exchange (KSE 100)-listed stocks can be a good trading bet, according to Christopher Wood, global head of equity strategy at Jefferies, especially around the IMF bailout periods.