Small-caps steal a march over Sensex, Nifty; index zooms 35% in FY22

Most analysts expect the markets to remain choppy in FY23 amid multiple headwinds. The ongoing geopolitical crisis, they feel, will keep commodity prices elevated and market gains in check

Even though the frontline indices – the S&P BSE Sensex and the Nifty 50 – are set to post a double digit return for the second consecutive financial year in 2021-22 (FY22) with a gain of 16 per cent and 18 per cent respectively, it is the small-caps where all the action was concentrated in the year gone by.

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The small-cap index on the BSE has surged 35 per cent thus far in FY22 – far outpacing the gains in the S&P BSE Midcap and the BSE 500 indexes that